Whanganui's historic Rutland Arms Inn building for sale

The historic Rutland Arms Inn building is for sale. Photo / Supplied

One of the oldest hotel buildings in Whanganui is for sale.

The historic Rutland Arms Inn building is a category 2 heritage building.

"Despite structural changes over the course of various ownership, it still maintains the integrity of the exterior," agent Gil Button, of Property Brokers, said.

Built in 1849 by Sergeant William Spiers-Russell, the Rutland Arms Inn was named after the English County of Rutland, and has changed hands many times since.

Hamish Goodwin, one of the current co-owners, said owning the heritage building had been a great investment, but a change in personal circumstances meant it was time to move on.

Goodwin and co-owner Hugh Lilburn, who both went to school in Whanganui, purchased the building in 2004.

In its earlier days, it was known as "the finest hotel between Wellington and New Plymouth", according to the Rutland Arms Inn website.

"The buyer purchases an Icon which is a significant cog in the central Whanganui business and hospitality scene," Button said.

The property is 2023 sq m across two storeys.

It is tenanted by a mix of businesses - including the Rutland Arms Inn hotel and restaurant. The other tenants range from retailers to service businesses, as well as multiple business offices.

Button said the building fitted in with the area, specifically the strip of heritage buildings on Ridgway St.

The Rutland had been victim to four fires. The first in 1868 and another in 1880.

The third fire in 1903 caused the owner at the time, FC Faber, to rebuild the whole hotel as a three storey brick building.

The additional story and turret were completely destroyed during a fourth fire in 1946, and they were not replaced in the rebuilding.

The deadline for sale is 3.30pm on Thursday, May 12.