HSBC: New branch to open on The Moor in Sheffield raises fears over Fargate

The bank is moving into the former Gap Factory outlet at number 22 which is part of The Light cinema complex. It has applied for planning permission to install signs and two cash machines. Builders are already at work inside.

HSBC has a large branch on Fargate and the new branch raises questions about its future. An application form by Sheffield firm Axis Architecture is called ‘Sheffield relocate’.

In November the banking giant announced it was axing 114 locations due to customers moving to online services, as well as the impact of the Covid-19 pandemic. At the time, it was understood the Fargate branch had been spared the axe. The Star approached HSBC for comment.

The Moor is now Sheffield’s retail core and several shops have relocated there from Fargate, including Next.

Fargate is undergoing a transition with a Tesco Express opening recently and the Event Central cultural hub set to open by March next year. It is also having a multi-million pound revamp.

HSBC Fargate is noticeably quieter than it was five years ago.

Gap closed and vacated its store on The Moor in September 2021. Another bank, Lloyds, closed its branch on The Moor in November. But Clark's shoes and Five Guys fast food outlet opened on the street earlier this year. And the owners of Debenhams last month announced plans for a makers' market and food hall called The People’s Store.