COFFEE shop chain Costa looks set to open a new branch in Hadleigh.

The national company has drawn up plans to take over the former NatWest bank, in London Road, which shut last week after 92 years.

It has led to hopes other big names will follow in its footsteps and open up in the town, kickstarting its long-awaited regeneration.

The Echo revealed in January a £10million masterplan was being drawn up, which is likely to lead to the Hadleigh Library site being redeveloped with housing and shops.

An original £60million masterplan, which emerged in 2011, was scrapped last year, leading to fears the regeneration would never happen.

David Hurrell, of WillowWalk, Hadleigh, who is a founding member of Hadleigh and Thundersley Community Archive, said: “I think the Costa is a lovely idea and I think it will be quite popular.

“We have already got a Boots in Hadleigh, and I think it’s great another big chain wants to open here.

“The economy is picking up again now and we are out of the recession, so hopefully this is the start of things to come.

“It will give Hadleigh a real boost and it’s a step in the right direction.”

NatWest closed its Hadleigh branch after a ten per cent drop in customers using it, which was blamed on more people using internet or phone banking.

Bill Sharp, deputy leader of Castle Point Council and St James’ ward councillor, said: “I think it’s excellent news such a big name is moving into this area.

“I am obviously disappointed with the demise of the bank, but we must move forward.”

Norman Ladzrie, Tory councillor for St James’ ward and former chairman of Castle Point Council’s planning committee, also welcomed the new investment in Hadleigh, but questioned whether the Costa branch would attract enough custom to survive.

He said: “I’m pleased a national chain like Costa wants to come to Hadleigh, but I must admit I am a bit surprised as I’m not sure the town has the right clientele.

“Costa must have done its research, and maybe it is expecting to attract passing traffic because of its prominent position on the A13.

“Who knows, this could bring other big names to the town and kick-start the regeneration.”

Castle Point Council is due to decide on the application by the end of April.

CHAIN WILL FACE STRONG COMPETITION

FEARS have been raised Costa will struggle to survive in Hadleigh due to stiff competition from well-established local businesses.

Alf Papworth, 81, of Ashdown Crescent, Hadleigh, who has lived in the town for more than 30 years, said: “We have already got enough cafes in Hadleigh. I don’t think local businesses are going to be very pleased about this, but I think people will always favour small, independent shops rather than big chains.

“I have been to a Costa before and I thought it was very expensive for what it was. I can’t see this doing very well or lasting long.”

Hadleigh is already home to Crystal Cafe, tea room Mason Noir, and cafe La Casa Del Bocadillo, in London Road, as well as Turkish restaurant Cafe Yemek, in Rectory Road.

Serdar Gulekoglu, who opened Cafe Yemek in August 2012, said: “It’s not good for us, but Costa is a brand, which I think will be too expensive for our customers.

"Good luck to them.

“I think the council seriously needs to reconsider allowing too many of the same businesses to open in the same area.”