The Jean Batten State Building has been given a one-month reprieve from demolition - but owners the Bank of New Zealand reserve the right to level it if it doesn't like the outcome of a design review.
The council and the bank have agreed to the moratorium on the art deco building while plans are reviewed and considered by a panel of three councillors and two architectural experts.
Under the deal, the BNZ has agreed not to demolish the building and the council will not override a demolition consent by imposing a heritage order.
The review will include an option to keep the building but others include demolishing it and the existing BNZ building at 80 Queen St and redeveloping the entire site.
Auckland City Mayor Dick Hubbard, who stood on a pro-heritage platform, refused to say if he wanted to save the building, saying it would be improper to comment at this stage.
"It would be quite wrong for Auckland City to turn around and just apply a heritage protection. It would be a breach of natural justice ... to have the ground rules suddenly changed," he said.
The Jean Batten building did not have heritage status when the BNZ started developing plans about two years ago. Council staff this year scored the building a category B classification but the council has not scheduled it.
Mr Hubbard, who has held discussions with BNZ managing director Peter Thodey and chairman Kerry McDonald, said the agreement relied on the bank's goodwill.
Jean Batten building given reprieve
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