| Code | DS/UK/93 |
| Corporate Name | Bank of England Leeds Branch |
| Dates | 1827 - 1997 |
| Activity | When the Bank began considering establishing a network of branches, Leeds was amongst the earliest locations proposed. However, problems with the Bank's desired premises in Commercial Street delayed the establishment of a branch in Leeds and eventually premises were rented in Boar Lane. The branch opened on 23 August 1827 under Thomas Bischoff, the first Agent. The branch moved to Albion Street in 1835 and in 1865 to Park Row into a building designed by Philip Hardwick. In 1966, the Bank acquired the Caressa House site in King Street with planning permission to redevelop it as a purpose-built bank. The branch moved into the new building in King Street in 1971 and after the closure of the Bank's other branches in 1997, it remained open as the Bank's North of England Cash Centre (aka The Leeds Cash centre), focusing on cash distribution. The regional agency became known as Yorkshire and the Humber Agency.
In 2002 The Leeds Cash Centre moved underground at its King Street premises in preparation for the sale of the building (the Cash Centre was to continue on site following agreement on a ten-year leaseback).
In February 2011, theYorkshire and Humber Agency moved to a new address in Leeds - the WestOne building on Wellington Street.
Following the successful transition to polymer banknotes, the Bank expected demand for distribution of new banknotes to fall in light of their greater durability, together with the continuing trend towards lower transactional usage of cash. After careful analysis, the Bank concluded in 2021 that future distribution needs could be met from its Debden cash centre and existing storage facilities, without replacing the Leeds cash centre when the lease on the current property expires in July 2023. Consequently, the Bank proposes to close the Leeds Cash Centre with effect from February 2023. All services currently provided through the Leeds Cash Centre would continue at Debden cash centre. This includes the service to assess and redeem mutilated notes which is currently performed in Leeds.
At the same time the Bank announced that it intended to move staff out of London with the creation of a new northern hub in Leeds, part of a plan to increase its staff presence across the UK significantly. The northern hub will involve building on the Bank’s existing network of 12 regional agents, who act as the “eyes and ears” of policymakers by keeping in touch with local developments. |
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