It’s an old property maxim that in many towns the banks and the churches scored the best positions, usually because they were early arrivals.
With the reduction in branch banking it is good to see original bank premises being re-purposed, in most cases for comfortable residential living or commercial premises.
In Kerang’s main street the former State Savings Bank property sits on a corner site adjacent popular retail outlets. The two-storey building, at the corner of Scoresby and Fitzroy streets, has a land area of 513sqm with a total building area of 315sqm over two levels.
The vendor has owned the property since 1980 and recently completed a professional refurbishment, including installing a new kitchen.
Over the last 12 months the solid brick building has undergone a substantial makeover so it can be used as a single residence, or potentially as many as three additional tenanted spaces on the ground and upper floor.
Features such as leadlight and stained-glass windows, the 300mm timber skirting boards and the four-metre (13-foot) ceiling heights have been retained, together with an impressive timber staircase and balustrade.
Other features include original timber mantles, upstairs balcony overlooking the rear yard, disabled-access toilets, new window furnishings and floor coverings, European appliances and a full paint job.
On the ground floor the original Chubb vault has been retained.
Another feature is that many of the rooms are of considerable size.
Part of the ground floor is served by a reverse-cycle ducted air-conditioning with other areas having wall mounted units.
The opportunity here ... is to use the front former banking chamber as commercial/office space, with a rear self-contained building as a single bedroom rental opportunity.
- Rodwells Ruralco Property agent Tanya Harvey
The former Kerang SSB building is ready for occupancy and is for private sale through local Rodwells Ruralco Property agent Tanya Harvey.
“The opportunity here as I see it is to use the front former banking chamber as commercial/office space, with a rear self-contained portion as a single bedroom rental opportunity,” Tanya said.
“With one bedroom measuring 4.5 x 5 metres, plus a kitchen-living area that measures 7x3.6m with its own laundry and bathroom, this is quite self-contained for a single tenant or couple.
“Then there is the upstairs portion with its own entry. This section has three bedrooms and substantial kitchen and living space, with its own bathroom and laundry and balcony.”
Tanya estimates rental potential in the range of $450 to $610 per week.
“There are the options of using the property as a whole, or to occupy the front residential portion and lease or rent out the upstairs portion and the single bedroom unit at the rear,” she said.
“This is a very sturdy building with plenty of room for lawns and gardening.
“Kerang is also a strong town with multiple community, sporting or recreational options and with good rental demand.”
