Bank this bank for less than $500,000

Dreams of owning a bank don’t have to be limited to corporate high flyers — and they can be realised for under $500,000 in country Victoria.

The circa 1879 former Bank of Australasia (ANZ) at 28-30 Conness St, Chiltern, is up for grabs for $459,000 and buyers have a chance to nab the town’s most prominent building.

Indigo Real Estate agent Jamie Horne says the significant site has been used as a bed and breakfast and tea rooms for about the past 30 years.

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“There’s certainly the opportunity to expand on the bed and breakfast and add additional rooms and expand the hospitality area,” he says.

A relaxing outdoor area is a highlight.

“Chiltern is very close to Rutherglen, which is a big wine centre, and very close to Beechworth, being a very popular tourist destination.

“There’s certainly the opportunity to expand on the bed and breakfast and add additional rooms and expand the hospitality area,” he says.

“Chiltern is very close to Rutherglen, which is a big wine centre, and very close to Beechworth, being a very popular tourist destination.

The property has been used as a bed and breakfast and cafe for about 30 years.

“Chiltern’s got a real buzz around it at the moment, there are a lot of new people moving in from Melbourne and Sydney and surrounding areas looking for that tree change, and they’re bringing a new energy to the area and new ideas as well.”

Last operating as ‘The Old Chiltern Bank Teahouse and BnB,’ Horne says special permission had to be attained to use the word ‘bank’ in the name.

“Businesses generally can’t do that,” he says, adding it is “probably the most prominent building in Chiltern”.

This article from the Herald Sun first appeared as “Your chance to own a bank for less than $500,000”.