From town bank to boutique hotel: A Kyneton gem poised for new chapter
Kyneton in regional Victoria, is one of those towns where it can feel like you’ve stepped back in time thanks to its beautiful, grand heritage architecture.
In the heart of the town centre, a grand Edwardian building at 116-118 Mollison Street has hit the market, presenting an exciting commercial opportunity for those seeking a new venture in a quaint town.
The two-storey property, which is well recognised by locals, offers more than 680 square metres of versatile space and is currently operating as Mollisons – a boutique hotel and shop. Designed by prominent architects Godfrey and Spowers, it originally served as the Bank of NSW when it was built in 1904.
“When the vendors purchased the property, the Bank of NSW sign was covered up!” says GrossWaddell ICR director and partner Andrew Greenway.
“As they started to do restoration work to the property, it became evident there was a treasure of beautiful period features at the front, which they uncovered. They had been covered with fibro in 1996, and they found this out via a report from the National Trust, which referred to the Bank of NSW.
“They were recommended to a wonderful 80-year-old plasterer who got to work on restoring all the beautiful features by hand at the front, and he was amazing to watch as he went about his craft. He rebuilt every letter by hand. The letters still today show traces of the very grand red and gold paint that originally covered them.”
With its renewed historical features now intact, the Edwardian facade and period detailing anchor it firmly in Kyneton’s historical prestige, while the internal proportions provide the scale needed to accommodate several business ventures, from hospitality and tourism to a unique retail flagship.
The current configuration offers two apartments (one bedroom and two bedrooms) and six hotel rooms with en suites.
Kyneton itself has emerged as one of the Macedon Ranges’ more sought-after lifestyle destinations, drawing visitors with its mix of arts, culture and acclaimed food and wine within easy access to Melbourne. As the town’s popularity has risen, so too has demand for high-quality commercial assets that appeal to both the local community and the growing number of tourists who are keen to explore the region.
The asking price of $3.295 million is negotiable.
