The heritage listed State Bank building in Ocean Street Victor Harbor is under contract after being on the market for several years.

Real estate agent Andrew Zammit of Leedwell Property said he couldn’t disclose the new owners as yet but that they were a commercial entity.

He said they would be occupying the property themselves and “employ local staff”.

The striking property was listed for sale for $2M in 2019.

The property is on the Victor Harbor Heritage Trail and was originally opened as the local office of the Savings Bank of South Australia in 1928.

The opening was a fancy affair, with Premier Richard Butler in attendance and local school children given a half day holiday in honour of the occasion.

The bank building sale follows that of the Apollon Motel in nearby Torrens Street.

The motel has now closed and is behind fencing with indication that it is to be demolished in the near future.

The motel often hosted members of the South Australian Police during schoolies and in recent years was providing emergency accommodation to those unable to find permanent housing in the area.

Demolition of the old Stratco building in Victoria Street is nearly complete with plans approved for a service station. 

Locals are beyond excited by the prospect of a co-located Hungry Jacks at the site, although this will remove the go-to answer on social media posts speculating on new developments in the area.

Image: The old Stratco building in Victoria Street is being pulled down and will be replaced by a service station.