A FORMER Rossendale town centre bank is to get a new lease of life after standing empty for nine years -- winning support from local traders.

Traders in Waterfoot say they are relieved to see that the building is to be transformed and brought back to life.

Rawtenstall based Hurstwood Group is due to start the £250,000 refurbishment of the former NatWest Bank in Bacup Road this week.

Work is set to include full weatherproofing of the outside of the building as well as repairs to the masonry, roof and windows.

Internally the building will also undergo a complete refurbishment.

Meanwhile the company is in talks with a potential new tenant for the one-time bank and former wool shop.

And as a back-up plan, the owners have submitted a planning application to Rossendale Borough Council to open it as a restaurant/bistro.

Hurstwood group asset surveyor Tracy Stratton, said: "The buildings are an important part of our property portfolio and we are keen to bring new life to them.

"The buildings are full of character and history. They are well known in the town and will make an excellent business base because it is in a wonderful location.

"Talks with an interested party are at an advanced stage and we hope to be in a position to make an announcement in the near future.

"In the meantime we intend to start work on a major refurbishment scheme at the property with retail in much of the ground floor and residential on the upper floors."

Hairdresser Christine Moffatt, who owns the award-winning Headmasters Salon across the road from the former bank said: "It's a relief to see that something is finally being done with the building as it has stood empty for many years. We hope that the shop will help boost Waterfoot."