The accolade came from the Lord Mayor's Awards for Urban Design.
The £2m project, developed by Oakgate Group Plc, has given new life to an abandoned listed building and provides large clear floor plates in a city centre location.
The refurbishment sees the new bank branch tie together three separate addresses whilst retaining the urban grain of the separate buildings.
Whilst the listed building on Lincoln Street was treated with a light touch and linked into the new building on the corner, the front façade of 22 Clumber Street was retained and reconnected to the new open plan framed building.
Paul Thrussell, Director at the Leeds office of Archial Architects, said: "One of the most pleasing aspects of this commendation is that the whole team worked together so well and all those involved are immensely proud of the results, despite the great complexity of the works and the many unexpected issues encountered on the way."
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The refurbishment sees the new building broken down into discrete parts, separated with vertical sections of glazing which are set back to give the masonry elements more solidity.
Two new brick and stone sections complement the listed building in scale and materials but do not attempt to copy the styling whilst the composition of the new facades takes a lead from the retained façade on Clumber Street with an emphasis on the vertical and tall windows stretching from floor to ceiling.
The finished quality of the facade owes much to a combination of high quality natural materials, attention to fine detailing and good craftsmanship, all without compromise. The overall effect is of a building entirely at ease in its surroundings but with the quality to stand out on its own merit.
The simplicity of the completed building belies the complexity of the construction project where all manner of challenges needed to be surmounted. In common with many historic sites in the centre of Nottingham, the excavation revealed extensive man-made caves, which presented a grave risk to the temporary structure supporting the retained façade.
Mr Thrussell said: "To achieve the quality of end product required a great deal of tenacity and good will from the tenants, the developer, the design consultants, the contractor and the local authority.
"Compromises often had to be made as the old buildings continuously threw up surprises and the design had to evolve and be adapted to stay relevant to the extant conditions. It was very hard work but well worth the effort, as this welcome commendation itself shows."
(GK/BMcc)
