Demolition throwback: The evolution of Midland Bank’s HQ into The Ned
Once the largest bank in the world, the Midland Bank required a global headquarters that matched its stature. In 1924, the bank’s chairman enlisted his friend Sir Edwyn Lutyens – one of Britain’s greatest architects, known for designing The Cenotaph – to create this iconic building.
When General Demolition stripped out the Midland Bank’s HQ at 27 Poultry, we uncovered a wealth of history, including a hydraulic bullion lift, the nation’s gold reserves, James Bond’s legacy and even boxes to store top hats.
The six-storey Edwardian masterpiece, at 27-35 Poultry and 5 Prince’s Street, EC2, is considered Lutyens’ best corporate design and clearly intended as an expression of commercial confidence.
But like high street bank buildings the length of the country, it’s days as a bank were numbered.
In 1992 it was vacated and stood empty for a decade until new investors arrived, with grand plans to convert the huge Grade 1 listed building into bars, restaurants, swimming pools, clubs, a gym, a five-star hotel – even its own boxing ring.
From cashiers to waiters
Today it is The Ned named after Sir Edwyn himself, who was known to his friends and family as Ned.
“There was plenty of modern partitioning, floors, walls, ceilings, and M&E that needed to come out, but it was far from a standard strip out,” remembers GD Chairman Colin McLoughlin.
“Being Grade 1 listed meant we treated everything with kid gloves. We had to preserve the black-and-white checkerboard floor in the main bank hall, the acres of marble and much of the hardwood panelling. There were even tapestries in the directors’ offices we had to maintain the temperature and humidity of.”
“It felt as though there were endless rooms to uncover within the building, but through careful planning, even a structure of this size and complexity was systematically addressed and managed,” remembers Colin.
Top hat housing
Fast forward to 2024, the building is still full of quirks. Like the powerful hydraulic bullion lift and the wall of small hardwood boxes with individual locks and keys near the entrance – that turned out to be for storing the directors’ bowler and top hats!
The giant safe in the basement not only once stores the nation’s gold reserves when the Bank of England was being renovated – it also starred Sean Connery as James Bond in 007 classic film Goldfinger.
It may no longer be the grand HQ of the world’s largest bank, but a lot of money still changes hands in The Ned today. The intricately decorated chairs still seat thousands of business professionals each week, and continue to enjoy endless trusty small talk about the unpredictable British weather. It seems its heyday never truly ended.
