The closure of Barclays Bank in April 2024, alongside two other high-street banks, left three prominent vacant buildings in Penrith town centre, creating an opportunity for regeneration aligned with the government’s Levelling Up Fund. Westmorland and Furness Council sought suitable projects to attract this funding, building on earlier work initiated in 2022.
YAM Architects, in collaboration with Dr. Chris Ford of Lancaster University, developed a proposal to transform the former Barclays building into a business innovation hub designed to attract new enterprises and support the growth of existing businesses. The scheme reimagines the former bank as a flexible, collaborative workspace, reinforcing Penrith’s role as a regional economic centre.
Dr. Ford engaged FIS360, a Penrith-based consultancy specialising in open-innovation programmes, to assist in shaping the proposal, which was presented to the council as the local delivery partner for the fund.
YAM Architects led the architectural and heritage aspects of the project, undertaking detailed surveys, liaising closely with conservation officers, and producing 3D visualisations to support public consultation. Cost planning and viability assessments were developed in collaboration with Donleys Limited.
This coordinated preparatory work was instrumental in securing £7.09 million of Levelling Up funding for the Penrith Enterprise Hub, alongside a complementary project for the redevelopment of the former Penrith Town Hall, establishing a significant platform for long-term town centre regeneration.