JOBS are set to go in Ulverston after a major bank decides to close its doors - with property experts predicting the 'iconic' building could be worth up to £300,000.

Last week it was announced that the New Market Street branch of HSBC was to close.

It was the latest in a series of closures across the area, the past few years having seen branches close in Ambleside and Grange.

The announcement to close the bank came just weeks after it was revealed that the Windermere branch would also be shutting its doors.

It is understood the seven employees at the bank will be able to transfer to another branch where possible.

The bank have also said the property will be listen on the open the market and sold.

Local estate agent David Corrie estimated in today's market a property such as the HSBC building could fetch between £250,000 to £300,000.

He said: "It's an iconic building, and a key building in the middle of the town.

"With the advent of new BAE investment, the knock-on effects will be seen in the service sector. The building could be made into a restaurant easily."

MP for Barrow and Furness John Woodcock has criticised the decision by the bank.

He said: "It is regrettable that HSBC has decided that its Ulverston branch no longer generates the custom necessary to justify its continued operation.

"I imagine some people may now switch to a bank which is staying loyal to the town and I am due to speak to HSBC this week to understand better the alternative arrangements they will make for Ulverston customers."

The branch is set to close on Friday November 25.

HSBC have advised their customers to contact the bank if they are unsure of where they can find their nearest branch.