Historic bank building in the heart of SA town Clare up for grabs

The Clare property at 243 Main North and 28 Old North roads is on the market. Pic: realcommercial.com

An almost 145-year-old building in the heart of Clare has hit the market, offering prospective buyers a chance to own a slice of the town’s rich history.

The 1877-built bank at 243 Main North and 28 Old North roads is being sold via expressions of interest.

Designed by Adelaide-based architect Daniel Garlick, the two-storey building showcases what a late nineteenth century banking house looked like in the state’s lower north.

While it was refurbished in 2019 to make the office space more contemporary, many of the building’s classic character elements have been retained.

It occupies two titles with two street frontages. Pic: realcommercial.com

The building was constructed in 1877 and has stood the test of time. Pic: realcommercial.com

The building offers prospective buyers an instant investment opportunity as it is leased to ANZ Bank, with a net rental return of $101,296 per annum.

ANZ Bank has occupied the building since 1877 and recently negotiated a new three-year lease with options to extend.

Ray White Commercial’s Tali Willcox, who is selling the property with Ian Lambert and Mark O’Meagher, said its prime position in Clare’s main street made it appealing to prospective buyers.

ANZ Bank has occupied the building since it was built. Pic: realcommercial.com

“In a thriving town experiencing strong growth and tremendous transformation due to the impact of Covid-19, and where most properties are tightly held by a few investors or owners, demand for this exceptional property will be high,” she said.

“Strategically and centrally located, ANZ Clare adjoins Ennis Park, Clare Town Hall and has two street frontages providing significant benefits and a multitude of opportunities.”

According to CoreLogic data, the property last changed hands in November 2016.

Expression of interest close at 3pm on September 22.