A well-known building in Masterton's central Queen St - formerly the home of the Westpac Bank - has been bought by Lands Trust Masterton. The building is next door to the Lands Trust offices at 189 Queen St.
Lands Trust chairman John Bunny said the community-owned trust very rarely purchased land and buildings together but considered this a special case. "It is one of the best sites in the street, facing north, and similar in style and era to our own building which does much to preserve the original character of that part of Queen St."
He said the building had a major impact on the streetscape in the area, and the trust would use its resources and experience to look, over time, at the feasibility of strengthening and preserving the building which was currently rated as an earthquake risk.
A retail outlet shop currently occupies the ground floor and leased car parking behind the building. Mr Bunny said the trust would talk with the tenant about continuing their lease.
The property, totalling 489 square metres over two floors, was built as the Bank of New South Wales in 1924 before the bank became the Westpac Banking Corporation in October 1982. Designed by Chrichton and McKay of Wellington, and built by Irvine and Burr, the two-storeyed ferro-concrete building cost just over 9500.
