First published 28 Oct 2026, 10:30am
Strathalbyn’s last remaining bank could be on borrowed time, with buyers putting forward plans to convert the landmark institution into a medical clinic or wedding venue.
Selling agent Sadeq Al-Khalidi said buyers had rushed to inquire about the century-old, sandstone BankSA building at 7 Dawson St after it hit the market less than a week ago.
While some had expressed interest in retaining the castle-like building as the town’s sole banking facility, others had indicated they “want the bank out’’, he said.
“I swear, every second call is for 7 Dawson St – I’ve had so much interest,’’ said Mr Al-Khalidi, principal of Belle Property Mawson Lakes.
“Some are funny – they want to buy it because they just want to own a bank and … they want some assurances that (lessee) Westpac will stay there.
“But I’ve had some buyers that have different ideas.
“I’ve got someone who wants to do it as (convert it into) a wedding reception (venue) – when Westpac finishes (its lease) they want to run it for receptions and weddings.
“I’ve also got a doctor who wants to move into the house (residence upstairs) and convert the whole (downstairs) building (area) into a medical centre.’’
Mr Al-Khalidi said the doctor had already been in touch with the local council to discuss his proposal.
The grand building, located on the main street of Strathalbyn, was purpose-built for the Savings Bank of South Australia in 1920.
Following mergers and acquisitions, the bank is now known as BankSA, a wholly-owned subsidiary of Westpac.
While the building was sold off by the bank long ago, and has also changed hands at least twice in the past two decades, it has continued to operate as a local banking outlet.
“Why they (Westpac) haven’t owned it but they just keep paying rent for it all these years, I don’t know – but it’s always ever been a bank,’’ Mr Al-Khalidi said.
“It’s a beautiful building. Some properties sell themselves – it’s not hard to sell them – and this is one of those.
“If you buy this, it’s not going to compare to any other building in the area. It’s that iconic.’’
Recognised as a state heritage place, the exterior of the bank cannot be altered, although the interior can undergo limited renovations, subject to approval, Mr Al-Khalidi said.
The building is currently leased to Westpac, trading as BankSA, until May 2028, with a further three-year option.
An upstairs residence is subleased by the bank to a longstanding tenant.
The property is expected to fetch offers, which close on November 13, of about $1.5m, Mr Al-Khalidi said.
BankSA is the only remaining bank to operate in Strathalbyn, following branch closures of the National Australia Bank in 2023 and the Commonwealth Bank in 2018.
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
