A landmark building in Dubbo's main street has been listed for sale for $2.45 million or for lease, as its occupant for a century bids farewell.
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Prominent property 87 Macquarie Street has come to the market this month.
It has been the home of Westpac, formerly the Bank of New South Wales since 1919, but the financial institution is preparing to move in with St George down the road.
The two-storey and 695-square-metre property has been placed in the hands of Andrew McDonald of Andrew McDonald Commercial Dubbo.
The real estate agent said the owners, who were investors from the Riverina region, had held the property for "a long time, at least 20 years".
"Their instructions are to sell it or lease it, whichever comes first," Mr McDonald said.
Zoned B3 commercial core, office, finance and retail are mooted uses for the property.
It is being marketed as "an outstanding period building and a major Dubbo landmark located in the heart of Dubbo's CBD and prime retail strip".
For anyone interested in that type of property, it's a very rare opportunity because there's only a handful of buildings similar to it in Dubbo's CBD.
- Listing agent Andrew McDonald
"For anyone interested in that type of property, it's a very rare opportunity because there's only a handful of buildings similar to it in Dubbo's CBD," Mr McDonald said.
"So from that point of view, it's significant for someone that might have a use in mind that would benefit or be complemented by the nature of this beautiful old building."
Less than a fortnight after its listing, the real estate has already drawn interest, the agent reports.
"There's certainly been at least half a dozen good inquiries now and several of them are now arranging inspections with us, which we will expect to have a number of those through next week, once the branch has been vacated," Mr McDonald said.
He reported the interest had been "all local so far", and to date "most of the interest has been more in purchase possibility, rather than the leasing possibility".
The building is described as having 14 offices over two levels, board room, open plan office space, air-conditioning throughout, two staff rooms/ kitchens and toilet amenities on each level.
A new owner would also gain off-street parking with 10 car spaces to the building's rear, belonging to the property.
Rent is advertised at $160,000 per year with a lease term of three to five years with option periods.
Listed as a heritage item in the Dubbo Local Environmental Plan 2011, its statement of significance details that it is "one of few elaborately decorative commercial buildings in Dubbo" and "important from both a streetscape and architectural viewpoint".
Faye Wheeler
I have been a journalist for more than a decade and in that time I have been keeping Daily Liberal readers up to date about issues affecting them and what's happening in their community. Throughout my career I have covered a range of rounds and most recently I have been focusing on the business round.
I have been a journalist for more than a decade and in that time I have been keeping Daily Liberal readers up to date about issues affecting them and what's happening in their community. Throughout my career I have covered a range of rounds and most recently I have been focusing on the business round.
