Bank set to replace River Island on Fargate in Sheffield

River Island on Fargate is set to be replaced by a bank.

Metro Bank has bought a 999-year lease from Orchard Square owners London & Associated Properties for £9.5m.

Metro Bank has exchanged contracts on a lease for a prominent site in Sheffield.

placeholder image — Metro Bank has exchanged contracts on a lease for a prominent site in Sheffield.

LAP chief executive John Heller said: "This is one of the most prominent units in Sheffield and we are delighted that Metro Bank will be an occupier at the front of our shopping centre.

"Metro’s arrival gives us added confidence that Orchard Square will continue to be a successful shopping centre even at a time of great upheaval in retail generally."

River Island pays £495,000 a year in rent.