The use of the participle here suggests ‘as it is’. You could say: Living near the town centre, I had no need to use a car.This means: As I lived near …In your sentence I would imagine it would continue with another sentence to explain how the location is useful. Alternatively it could simply be an alternative to ‘is’ and suggest the actual presence or existence of the branch. Apart from that it has little point.
Sorry for not putting a complete sentence. I thought it is enough to show an example that can be understandable. The complete sentence that I just read is "Our branch in xxx being strategically located close to xxx, specializes in xxx.
By the way, to both of you, thanks for the explanation. It is very useful