The Australian Financial Review reports that the property was bought in 1999 and restored over five years by local builder Kevin Hawtin and his wife Moira.

The former Paterson Branch of the Commercial Banking Company of Sydney has high ornate ceilings, Australian cedar and American redwood timbers, original floors and five guestrooms.

Built in 1902, the King Street property, a three-hour drive from Sydney, has its original architecture intact including French doors, which open to a large wraparound verandah.

A restaurant, cafe, bar and lounge, which includes a commercial kitchen, have been integrated.

McElwaine Property's Natasha McElwaine will take expressions of interest until May 30, with offers of more than $1 million to be considered.