HOT PROPERTY: The Lanes building in Skinner St, South Grafton, is on the market.
HOT PROPERTY: The Lanes building in Skinner St, South Grafton, is on the market.

Historic building accepts unlikely payment

IT MAY be a one-of-a-kind historic building, but the owner of the former Lanes building in South Grafton is open to a very modern way of purchasing it.

The building, which houses two commercial premises and two residential units, is on the market for $599,000 and selling agent Stephen Haines said the owner would accept cryptocurrency.

"It's a first for McKimms agency, and probably any agency in town,” Mr Haines said.

"He deals in cryptocurrency and he's quite open to accept it as payment if there was someone out there who wanted to do it.”

The building is rare in Grafton's landscape, being one of the only designed by Lismore architect F.J. Board.

Historical documents state it is architecturally significant for its well-proportioned, symmetrical facade and careful cement render bands and mouldings that have a strong art nouveau motif.

In a present-day context, the building is also a valuable prospect for investors.

"There's a net return of around 8.5per cent, which is right up there with the best of them at the moment,” MrHaines said.

"Skinner St has really come back in the last few years and I think if you go there any time these days it's quite a hive of activity.”

The residential spaces have been recently renovated and improved, and there are two old garages for the flats as well as space at the rear of the property.

Mr Haines said there had been interest from local and out-of-town investors, with many inspecting the property recently.

"There's a real energy here and it's perfect for anyone looking to invest in the southside,” he said.