Agency boss: Why HSBC branch closures are good for the high street

HSBC has announced a new round of branch closures but an estate agent suggests there may be a positive side for future footfall.

The bank revealed plans last week to close 114 branches on top of 69 that were already due for closure, arguing that it was responding to the changing ways that people access financial services.

Two of the branch closures are in Knutsford and Wilmslow where Gascoigne Halman has a high street presence.

Andrew Rogers, principal of Gascoigne Halman Knutsford, suggested there are positives to the branches disappearing as the replacements could mean more people pass by its branch windows.

He said: “While it’s always sad to see a familiar face leaving the high street, I understand HSBC’s decision based on the changes in the way people bank. Our Knutsford office is situated opposite HSBC on Princess Street and footfall into the bank has been low for a long time. 

“We are however, fortunate in Cheshire that both Knutsford and Wilmslow are relatively wealthy towns where commercial voids appear to be snapped up swiftly.
“Our town centres are evolving but we view this very much as a great opportunity to reimagine them to better serve our modern lifestyles. 

“The recent rise in coffee shops and other communal venues indicate that social spaces are in high demand as are boutique independent retailers. This is what continues to bring people into our town centres.”