A leading High Street bank are making an investment in Cheltenham's town centre by opening a new branch in the town with the creation of 25 jobs.

Metro Bank have submitted plans to redevelop the River Island shop at the font of Regent Arcade.

According to documents filed to Cheltenham Borough Council "intend to secure a 25-year lease, which represents a significant investment in Cheltenham town centre."

Owner of the Cheltenham shopping centre, Canada Life Investments Ltd, has exchanged contracts with Metro Bank on a 13,000 sq ft High Street facing unit which is currently let to River Island.

Metro Bank became the first High Street bank to launch in more than 150 years when it was founded in 2010.

Upon foundation it announced an intention to open 200-250 branches nationwide within 10 years.

It currently has 67 different retail outlets across the country and is listed on the FTSE 250 list of businesses.

The bank say they operate on "a completely different business model to traditional banks, providing unparalleled customer service in a retail orientated environment.

In documents filed with the application, the company state: "Outlets are deliberately called stores rather than branches, such is this focus.

"Metro Bank always looks to open new stores in prominent, accessible locations where they can deliver maximum benefit and impact for local communities.

"Key to Metro Bank's success are the store colleagues, the majority of whom are recruited from the local area and benefit from exceptional training opportunities."

The Bank also buck the trend when it comes to its opening hours. They are open seven days per week.

The application is for opening times between 8am and 8pm on weekdays, 8am to 6pm on Saturdays and 11am to 5pm on Sundays.

Ian Walters, managing director of retail and business banking at Metro Bank, said: "As the revolution in British banking, we're excited to be coming to Cheltenham. 

"We're committed to bringing amazing customer service to local residents and businesses in the area."

Regent Arcade centre manager Scott Lahive said: This is one of the most prominent units in Cheltenham and we are delighted that Metro Bank will be an occupier at the front of our shopping centre, bringing their award-winning service to the High Street at a time when most other banks are closing branches. 

"Metro's arrival will provide a much-needed boost for the town centre in today's challenging retail climate."

Cheltenham BID director Kevan Blackadder said: "It is very positive for Cheltenham town centre to see a major new bank opening here. I know they identified Cheltenham as somewhere they were keen to be and that they have been waiting for the right location."