11-1 London Abchurch Lane

In Service:- 1929 until late 1930

Sunday Mirror 24 March 1929

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When Martins Bank built its palatial new Head Office in Liverpool, it was able to maintain a banking service across the road in the Bank of Liverpool’s original Head Office. When it came to rebuilding 68 Lombard Street in London however, there was no simple solution to being able to look after the banking needs of customers for more than a year. Even simply knocking down No 68 would turn out to be a minefield of practical - and legal - problems.

In order to accommodate the plans for the new London Office, Martins Bank would have to knock down part of Part of Messrs Glyn Mills bank, and the project would also impact upon Lloyds Bank who were also due to demolish part of their own branch at 70 Lombard Street. Each of the two demolitions jobs looked as if it would impact the other - from making party walls unsafe, to undermining (literally) the new basement area of Martins’ proposed new office.

Thankfully, after much negotiation, and the consideration by Martins of taking legal action against Lloyds, a way ahead was found, and it took the best part of two years to erect 68 Lombard Street with seven floors at ground level and above, and three basement floors. The question of how and where the customers of the Bank could be served during such an upheaval was answered by Martins Bank taking out a lease on part of the property of the Phoenix Assurance Company at Nos 12 13 and 14 Abchurch Lane, EC4. Offices at 15 Sherbourne Lane were also used.

Turning the offices of an insurance company into a working bank required the addition by Martins of a number of fixtures and fittings, and in the letter shown here from Phoenix, they are listed as follows:

Four strong-room Doors

One Grille Partition with duplicate locking door

Hydraulic Book lift

Hot Water Boiler

Heating Boiler

Radiators

Sanitary Fittings

Mahogany Partitions

Fireplace and Mantlepiece

The Phoenix is willing to purchase as many of these as they can use for their own purposes after Martins has vacated the building, but there is the proviso that anything NOT wanted must be removed by Martins Bank, and any structural damage put right at the expense of the bank.

The total costs of building the new premises at 68 Lombard Street - steel work, excavation, building work, fixtures, fittings etc., would eventually run to more than £100,000 - which in today’s money is a figure approaching seven and a half million pounds!