Bellingen Commonwealth Bank building still on the market after failing to sell at auction

An eye-catching old bank building in the heart of a Mid-North Coast town has not been snatched up at auction. The agent says there’s “no urgency in the market”. Here’s the latest.

The former Commonwealth Bank building on Hyde Street in the heart of Bellingen is up for auction on October 27.

There’s been loads of interest but still no offers on a stunning art deco building in the heart of the picturesque Mid-North Coast town of Bellingen.

The old 1920s Commonwealth Bank building was put to auction recently by Ray White’s Lindsay Tutt.

“We had a lot of lookers, but no bidders,” Mr Tutt said.

He said an auction was the best way to go with such a unique property, up for sale for the first time in decades because “you don’t know what price to put on it”.

The old building is on the market with a price guide of $3m.

Mr Tutt remembers when the building was still a bank, before it was turned into an art gallery and then the Affirmations publishing house.

The former Commonwealth Bank building on Hyde Street in the heart of Bellingen.

The bank vault is still there and it was once used as a bar at a party where a horse rode into the main chamber according to Mr Tutt.

“The rear windows, where the bank manager’s office was, still has a bullet hole – maybe from a disgruntled customer?” he said.

Fully renovated over two levels, the home includes three bedrooms, two bathrooms, a kitchen and kitchenette. It also has two car spaces.

It features a landscaped garden on 937 square metres, with a large rear entertaining deck.

Next door is the renovated Memorial Hall and across the road is the Bellingen Shire Council offices and park, where concerts and community celebrations are often held.

The former Commonwealth Bank building on Hyde Street in the heart of Bellingen is up for sale.

The former Commonwealth Bank building on Hyde Street in the heart of Bellingen is up for sale.

The former Commonwealth Bank building on Hyde Street went to auction on October 27 but didn’t sell.

The former Commonwealth Bank building on Hyde Street went to auction on October 27 but didn’t sell.

The former Commonwealth Bank building on Hyde Street in the heart of Bellingen.

Bellingen is a town in the Coffs Harbour hinterland, inland from the beaches at Urunga along the Waterfall Way – keep heading up the mountains and you’ll reach the stunning rainforest and waterfalls of Dorrigo.

It’s well known for its festivals and monthly markets, with plenty of live music and fine dining options available, including the new Bellingen outpost of Three Blue Ducks.

Classic older-style timber houses in town are still going for more than $1 million but Mr Tutt says people are sitting on their hands more in the current context.

“There’s no urgency in the market,” he said.

“Everything was going so well about 12 to 18 months ago but it’s slowed up a bit now.”

He says interest rates have had their desired effect but Bellingen is still “busy as” and he expects the bank will sell within the next two to three weeks which is often the case following an unsuccessful auction.