The vacant Grade II-listed building is located on Collingwood Street on the edge of Newcastle’s Grainger town and was occupied by the bank until 2013.
The upper office floors were granted planning approval for residential use in 2003, but have remained largely vacant since the late 1990s.
The approved design includes the use of the existing spiral stair as an entrance to the apartments and the conversion of the bank manager’s office into a private dining room.
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Commercial property consultancy Lambert Smith Hampton (LSH) advised Newcastle-based property developer Union Properties in respect of the application for the change of use of the property to a restaurant on the ground and basement floors, and 12 high-quality residential apartments on the upper three floors.
Planning permission was granted unanimously by the planning committee on 16th June 2017.
Helen Marks, director of LSH’s planning and development consultancy in Newcastle, said: “The decision to allow the redevelopment of this building will not only ensure that its historic features are maintained for future generations to enjoy, it also provides a welcome boost of high-quality residential premises and public amenities in an area which is currently undergoing regeneration.”