Metro Bank signs for two more stores

  Metro Bank, Britain’s first high street bank to be granted a full-service banking license in more than 150 years, has taken leases on two more stores which will open for business after the bank’s planned launch later this year.   Metro, advised by Knight Frank, has bought stores in the Borehamwood Shopping Park, Hertfordshire, and on the front of the Fulham Broadway station, West London.    The agent said they have been chosen for their “prominent corner locations which will offer local customers convenience in accessing their local bank”.   The sites in Borehamwood and Fulham, have ground floors of between 3,000 – 4,000 sq ft.   As with all Metro Bank stores, they will be open 7-days-a-week, 8am – 8pm Monday to Friday, 8am – 6pm Saturday and 11am – 4pm Sunday.   The Borehamwood store has been acquired on a 15-year lease at a commencing rent of £230,000 pa exclusive.    In Fulham, Metro Bank will replace the old Borders bookshop at the front of the mall leading to the Fulham Broadway underground station.   It has acquired the store on a 15 year lease at a commencing rent of £320,000 pa exclusive.   Knight Frank has already acquired two stores for Metro Bank in Holborn and Cromwell Road, Earls Court, which will open later this year, and are part of a plan to acquire 20 stores across central and Greater London in the next two years and more than 200 stores during the decade.   Knight Frank has been retained as sole agent acting for Metro Bank.    Calum Ewing, partner, Knight Frank retail, commented: “Following a referral from Newmark Knight Frank we have spent the last two years advising Metro Bank on their real estate strategy.      “We are really excited to be so close to seeing the first London stores for Metro Bank open and helping bringing unparalleled levels of banking.”   paul.norman@estatesgazette.com