Restored Mittagong icon, The Old Bank, announced to the market

20 March 2019

For those acquainted with Mittagong in the Southern Highlands of New South Wales, they are sure to know the glorious Old Bank at 83 Main Street.

Originally a Commercial Banking Company of Sydney premises dating back to the 1880s, it found itself quite dilapidated before it was purchased by Barbara Whitehouse and Warwick Wainberg of Cayonleigh in 2008. 

Having been lovingly restored it is now on sale through Knight Frank’s Deborah Cullen and Richard Sholl, in conjunction with Andrew de Montemas of WM Carpenter & Associates, with price expectations of $4 million.  

According to Mr Wainberg given their blend of past property development and hospitality the opportunity to purchase The Old Bank was too good to pass up. 

“We saw the chance to preserve a Mittagong icon from neglect or demolition and couldn’t resist, so our journey of restoring The Old Bank to its former glory began.”

The magical mix of period styling befitting the original construction with modern day comforts means The Old Bank lends itself to a number of uses, according to Deborah Cullen, Knight Frank’s Partner, Head of Prestige Residential Sale NSW.

“With eight spacious bedrooms each with an en-suite, a total of nine bathrooms and secure parking for eight cars, the limit of potential of this majestic offering is more in the mind of the buyer than the property itself. 

“Whether it be as a residential home, a restaurant, a boutique hotel, a BnB, corporate headquarters or a club, The Old Bank would be perfect.”

According to Mr de Montemas, the Southern Highlands and Mittagong markets remain buoyant due to its popularity as a wedding and weekend getaway destination.

“We expect The Old Bank to receive strong interest from a variety of parties due to the potential accommodation upside and the wide range of uses the building could be used for. It presents a strong opportunity to purchase a Mittagong icon that has been restored to maximise future opportunities for the incoming owner.”

For further information, please contact:
Tammy Clinch, PR Executive, Australia
 
Deborah Cullen, Partner, Head of Prestige Residential Sales, NSW
 
Ends
 
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 18,000 people operating from 523 offices across 60 markets. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit knightfrank.com.