A FORMER bank building is going back on the market after the town council decided not to buy the property.

Malvern Town Council backed out of the purchase due to a surveyor's report, which outlined excessive repair and maintenance costs for the building.

The old NatWest branch, in Church Street, Malvern, will now go through another round of bidding.

A NatWest spokesman said: "The building will be going back on the market to give all interested parties the same opportunity to bid again."

Businessman Mike Clarke, who saw his £376,500 bid for the building rejected, said: "They said they will let me know the date by which offers need to be submitted in the next week or so.

"Then they’ll set a closing date for some time after that."

Mr Clarke added that he is still deciding whether to enter another bidding war for the property.

The managing director previously hoped to turn the building into a live music venue and restaurant.

Property agents GVA originally listed the branch online with a £275,000 asking price.