Be the king or queen of your own mini castle

It’s one of the most recognisable buildings in Strathalbyn, and now it can be all yours.

The BankSA building at 7 Dawson St, on the corner of Donald St, has just hit the market, offering you the chance to own a piece of the town’s rich history, and the opportunity to one day, possibly, transform it into a wonderful dream home.

Selling agent Oliver Totani of Knight Frank Adelaide, said the building was an icon in the township and presented a wonderful opportunity, both now and into the future.

“Overarchingly, it’s a longstanding retail banking outlet in the heart of a really good Adelaide Hills location,” he said.

How’s that for a facade?

The inside as locals know it.

One of the building’s offices.

“It’s established and growing, so it ticks those boxes, and it’s one of, if not the most prominent buildings in the township – everyone knows it and I think that’s the reason the banking retailer continues to buck the trend and has recently committed to another three year’s tenure there.”

The bank is currently committed leased to Westpac Banking Corporation, trading as BankSA, through to May 6, 2025, with two further options of three years.

The kitchen of the upstairs accommodation.

And the accommodation’s main living area.

“For an investor, you have to not only look forwards but also back and I think the fact the bank has been there for a couple of decades now shows that while they are shutting down retail outlets across the country, some properties are worth more to the retail need than others, and this property suggests it has a role to play from a retail point of view.

“It’s a cracker of a building.”

As well as the bank on the ground floor, it also includes accommodation on its first level, subleased to residential tenancy but allowing for future owner-occupation.

“It’s a rounded investment option, and more importantly, it’s an affordable investment option – you’re not going to buy many houses these days for what you’re going to be able to buy this iconic building for.

“We’re looking for in excess of $1m.”

Professional cyclist Patrick Jonker and amateur Rob Yates pictured in the historic township. Picture: Tricia Watkinson

Mr Totani said the home would appeal to numerous investors, from your standard mum and dad commercial investor, to those seeing the value they get by buying in a regional location.

“And I think in that price range, you’re getting those sorts of investors who are transitioning out of a residential market that they’ve been dealing in for sometime and looking at alternatives away from the residential space,” Mr Totani says.

Mr Totani said the potential was there for it to be turned into a fabulous home down the track.

“It’s been a bank for a long time so there’s a lot of nostalgia there from a township point of view, but overall, whether the bank’s there forever or not, you’ve got an iconic property that could lend itself well to a lot of other uses, and possibly one day a residential building for somebody that wants to live in a little castle,” he said.

“It would make a fantastic residence, I would have thought, for somebody looking to be not too far out of Adelaide but have that country township feeling.”

The property is being offered via an expressions of interest, closing Thursday, December 8 at 4pm.