Purpose built in 1926 to cater for the Bank of Australasia and to provide a town residence for its rurally based owners, this attractive landmark was a concept well ahead of its time! The ground floor housed the bank and accommodation for its manager while upstairs there were two apartments, one for the owners and the other for friends.
Currently, downstairs is home to popular cafe Herb & Olive while the first floor features office space and a newly renovated apartment. A billboard on the side of the building also provides income. It would work well for an owner occupier, a company looking for office with accommodation or any investors appreciating a range of returns. There is a commercial kitchen, two kitchenettes and four bathrooms.
Extensive earthquake strengthening of the double brick building was undertaken in 2006. It was reassessed in 2018 with no issues noted. The engineers report stated that parapet walls have been strengthened and tied back, the brick walls and concrete beams appear to be in good condition, the brick mortar appears to be firm and fixing through walls and beams appear true. The building has managed to survive all seismic onslaughts to date. A category II Historic Places classification aims to retain the external integrity and aesthetic appeal without limiting internal development. Roof and guttering was replaced August 2023.
Located in the centre of town, the Old Bank space has always been in high demand, home to a fascinating list of commercial activities and providing accommodation for owners and tenants. This is an opportunity to own a lucrative slice of Marlborough heritage.
