Redevelopment plans for a former bank in Watford have moved a step closer after the site was sold to a developer.

Permission was granted in early 2019 to turn the old Lloyds Bank in St Albans Road into a building of 14 flats and retail units.

The building was put up for sale for £1.5 million in 2021 but no buyers have been forthcoming until now.

Read more: Plans for nearly 200 flats in Lower High Street up for refusal

Watford Observer: The former Lloyds bank at the junction of St Albans Road and Langley RoadThe former Lloyds bank at the junction of St Albans Road and Langley Road (Image: Watford Lib Dems)

Ben Howard, land and development manager at Perry Holt Chartered Surveyors, which was marketing the property, said: “We are delighted to see this transaction over the line on behalf of our client.

“The building is in a highly prominent and sustainable location, so future residents will have public transport on their doorstep. The proposed development compliments the regeneration of the St Albans Road area nicely.

“We believe the new owner will be starting the project soon and is excited to be providing high end apartment living with much needed new commercial retail units.”

Mr Howard said he was not in a position to disclose the identity of the buyer nor the sale price.

Watford Observer: The approved redevelopment schemeThe approved redevelopment scheme (Image: Fairfield Estates)

Under the plans, which were approved on appeal, an extension will be built on top of the existing bank façade.

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