It's closing caused an outcry, but the sale of the former Commonwealth Bank building in Blayney passed with barely a ripple.
Sold within a week of being listed the sale is reflective of the buoyant real estate market that Blayney is currently experiencing.
The question of course is what will the new owners, who live in the district but can't be named until settlement is complete, do with the building.
Zoned as commercial the long and skinny block has a vast backyard that's just begging for some sort of residential development and the agent responsible for the sale James Thompson from AT Realty said that it all hangs on Blayney Shire Council's decision.
It depends on Blayney council but under the state government's rules you could fit three houses or five units on the block.James Thompson
"The owners have plans for some sort of residential development be it town houses or homes or flats or bed and breakfasts but it all depends on what Blayney council will allow in that area," he said.
"It's B2 zoning so it will be a commercial site but the owners plan is for the existing bank building to be converted into something else, maybe leased as a stock and station agency or something like that and the residence at the back will be turned back into a home."
With an area over 2,000 square metres and the existing building taking up only about 300 of that, the potential at the rear of the block leading on to Adelaide Lane, albeit a thin block of land, is what attracted the buyers Mr Thompson said.
"It depends on Blayney council but under the state government's rules you could fit three houses or five units on the block," he said.
"With Blayney's residential shortage as it is it makes real commercial sense to allow something like that on this site."
Blayney council's Director of Planning and Environmental Services Mark Dicker said that the B2 Local Centre zoning is consistent throughout the town's commercial centre and includes the former Blayney Bowling Club site.
Within that zone he said that the objective is to provide a range of retail, business, entertainment and community uses for those that live in and work in the area.
"It really is an open zone there whereas residential is strictly that," he said. "If it's a closed zone it lists specifically only what can happen whereas if it's open like it is it can potentially be subject to a merits based assessment.
"Normally in a situation like this they would keep the retail frontage and put a development in behind it."
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