One of Branxton's iconic buildings has a new owner.
The former Bank of NSW building at 65 Maitland Street has sold after almost one year on the market with PRDnationwide Hunter Valley listing agent James Hannah.
Although the price was undisclosed, the agent confirmed the property sold within its guide.
He said the new owner, an investor from the Newcastle area, planned to continue operating the building as a boutique accommodation venue.
"We had a guide in the mid to late $1 million range," Mr Hannah said.
"It sold to an investor who will continue proceeding with the property as it is now as a short-term rental."
The landmark had undergone significant renovations by its owners, who comprised a group of investors, including renovation expert and interior designer Naomi Findlay, mindset mentor and author Denise Duffield-Thomas and her husband, Mark.
The grand building was transformed into Branxton Bank, a luxury short-term accommodation for up to eight guests.
"We had a great amount of interest in the property, including Sydney, and one buyer flew from Queensland to take a look at it," the agent said.
"It was a tricky one to sell, though, because it was mixed-use, it had heritage constraints, and because of the interest rate climate we had for the last 12 months.
"Properties like this are always a slow burn, but when the right buyer presents themselves, they present themselves."
Set across two floors, the opulent property has four large bedrooms and three bathrooms, including two with freestanding bathtubs.
Features throughout the property include French doors, polished timber floors, roman blinds, chandelier lighting and open fireplaces.
The bank's safe is retained on the ground floor.
The property includes a commercial space in the large reception area, tenanted by a florist.
The building is set on 1600 square metres, including its attached manager's residence.
The vendors purchased the landmark property in June 2022 for $1 million after it was held by Bernadette and Robert Bailey for 32 years.
The bank was built in 1939 and later occupied by Westpac, who operated at the site until 1996.
It is the third short-term accommodation property Mr Hannah has recently sold.
A 150-acre property, St Helena, at 3334 Allyn River Road in Upper Allyn near Barrington Tops, fetched more than $2.6 million in November.
The sellers undertook a renovation and buildings, including a three-bedroom farmhouse.
The dairy and grainery were also converted into two guest cottages.
Offered to the market for only the second time in more than 100 years, St Helena sold for just over $2.6 million.
"It was purchased by a Central Coast-based buyer who will probably continue the Airbnb operation and could eventually use it as a family holiday home," he said.
Vintage Steel, a luxury industrial-style converted hay shed at 31 Paterson Street in Hinton, which operates as a popular Airbnb rental, has also sold off-market with Mr Hannah for an undisclosed price.
It previously sold in 2021 for $1.475 million.
The property comprises eight bedrooms, 3.5 bathrooms, a plunge pool and a floorplan spanning 600 square metres.
The new owner will continue to operate the property as a short-term accommodation.
Mr Hannah suggested the recent string of sales indicated confidence was returning to the accommodation market.
"In the accommodation sector, we know things aren't as good as they have been in the past," he said.
"It's all cyclical; it will come back, and it feels like there is a bit of confidence coming back in that market between St Helena, Vintage Steel and Branxton Bank, which all represent that short-term accommodation market."
