Building changes hands

The former Stringer and Co building (above) at the corner of Thames and Eden Sts in Oamaru has been sold to an out-of-town buyer.

Ray White real estate agent Alan McLay would not identify the buyer but said he understood the building would be used for offices and accommodation.

"The current owners were part of a group that refurbished it into a bar restaurant ... and look, it was just before its time," Mr McLay said.

"All of a sudden the world has changed, really. We are staggered at the interest in our commercial buildings at the moment compared to usual."

He would not comment on the sale price. The Waitaki District Council lists Morcomm Systems Ltd as the current owner. Morcomm Systems owner Ian Morris declined to comment yesterday. The council lists the land value at $160,000 with a capital valuation of $495,000.