Santander is set to close four office locations in Merseyside, Newcastle, London and Manchester.

The lender’s Bootle, Newcastle, London Portman House and Manchester Deansgate sites will all close by the end of the year.

The bank has plans to establish a new headquarters in Milton Keynes, where it is investing £150m into the facility, and will retain offices in Belfast, Bradford, Glasgow, London and Sheffield.

Santander is also set to reduce the volume of office space at its London Triton Square, London Ludgate Hill, Leicester Carlton Park and Teesside sites.

An estimated 5,000 staff members based at the closing or consolidating sites will be offered dual location working arrangements.

Nathan Bostock, UK chief executive of Santander, said: “The pandemic has accelerated the existing trend towards greater flexible working, and our colleagues have told us this has brought significant benefits for many of them.

“At the same time, physical spaces remain very important and our sites around the UK will provide our colleagues with first-class facilities fit for the future.

“We are investing £150m in our state-of-the-art new campus in Milton Keynes, which will become our new headquarters.

“Milton Keynes is one of the UK’s leading technology centres and with a number of innovative education and training providers on our doorstep, we believe it will provide us with excellent future access to talent and opportunities for colleagues to innovate and develop their skills.”