Inside the National Bank of Australasia home conversion in Fitzroy North, Melbourne

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Hidden behind the elegant front of an old Melbourne bank is a spectacular family home that could easily be mistaken for a grand Paris apartment.

The stately four-bedroom in what was once the National Bank of Australasia in Fitzroy North, four kilometers northeast of the CBD, is for sale with on-title air rights, meaning the lucky buyer can build another floor on top of the existing building – a rare blessing in such a central location.

Spread throughout the 231-square-foot home is a luxurious marble kitchen, two resort-style bathrooms, a wraparound balcony, and a wine cellar that was used as the bank’s document repository during World War II.

Original features such as marble fireplaces, intricate parquet floors and an imposing cedar staircase refer to the past, while contemporary additions such as twin washbasins in the bathroom and a kitchen with premium Miele appliances provide a modern twist.

Hidden behind the elegant front of this old Melbourne city center bank is a spectacular family home that could easily be mistaken for a grand Paris apartment

Hidden behind the elegant front of this old Melbourne city center bank is a spectacular family home that could easily be mistaken for a grand Paris apartment

An upstairs veranda with Victorian arches and carefully carved columns provides the perfect place to watch the world go by in the bustling suburban village.

Under the house is the wine cellar, the underground storage room and the parking basement for two cars.

Plastered ceilings soar high above every room, with lavish crown molding along the edges adding a touch of historic charm.

The stately four bedrooms are tucked away in the former National Bank of Australasia in Fitzroy North, 2.5 miles from Melbourne CBD

The stately four bedrooms are tucked away in the former National Bank of Australasia in Fitzroy North, 2.5 miles from Melbourne CBD

The stately four bedrooms are tucked away in the former National Bank of Australasia in Fitzroy North, 2.5 miles from Melbourne CBD

Original features, including marble fireplaces, contrast with modern additions such as twin washbasins in the bathroom (photo)

Original features such as marble fireplaces contrast with modern additions such as double washbasins (photo)

Original features, including marble fireplaces, contrast with modern additions such as twin washbasins in the bathroom (photo)

The wine cellar (photo) was used as the bank's document storage facility during the Second World War

The wine cellar (photo) was used as the bank's document storage facility during the Second World War

The wine cellar (photo) was used as the bank’s document storage facility during the Second World War

Huge arched windows allow sunlight to flood into the unique home, which Agent Arch Staver describes as a ‘timeless’ European-esque building.

“It’s more of the type of building you see in some of the older cities in Europe, so it’s really sophisticated,” he said. realestate.com.au

Fellow agent David Sanguinedo told Daily Mail Australia that landmark properties, such as the bank conversion, are “uncommon” in Victoria.

An upstairs veranda with Victorian arches and carefully carved columns provides the perfect place to watch the world go by in the bustling suburban village

An upstairs veranda with Victorian arches and carefully carved columns provides the perfect place to watch the world go by in the bustling suburban village

An upstairs veranda with Victorian arches and carefully carved columns provides the perfect place to watch the world go by in the bustling suburban village

The 231 square foot home has original features including arched doorways

The 231 square foot home has original features including arched doorways

An imposing cedar staircase leads to the main living space

An imposing cedar staircase leads to the main living space

The 231 square meter house has original features including arched doorways (left), stately pillars and an imposing cedar staircase (right)

Huge windows let in each of the four bedrooms with natural light

Huge windows let in each of the four bedrooms with natural light

Huge windows provide natural light to each of the four bedrooms

“It’s one of the few in Melbourne, indeed in the whole state,” he said.

Mr Sanguinedo said the inclusion of on-title air rights makes it even more unusual and adds endless possibilities to the landmark home.

‘Subject to approval by the municipality, you can add a roof terrace or another level of living,’ he explains.

Mr. Staver and Mr. Sanguinedo, who oversee the sale of the property for local real estate agent Nelson Alexander, have set a target price of $ 2.4 million to $ 2.6 million (AUD), with the closing of turn out of interest on Wednesday, March 31.

Plastered ceilings soar high above every room, with opulent cornices along the edges adding a touch of historic charm

Plastered ceilings soar high above every room, with opulent cornices along the edges adding a touch of historic charm

Plastered ceilings soar high above every room, with opulent cornices along the edges adding a touch of historic charm

The Grade II listed house has a chef's marble kitchen with Miele appliances

The Grade II listed house has a chef's marble kitchen with Miele appliances

As well as spacious open-plan dining areas

As well as spacious open-plan dining areas

The Grade II listed house has a marble chef’s kitchen with Miele appliances (left) and spacious open-plan dining areas (right)

The house is listed with a target price of $ 2.4 million to $ 2.6 million (AUD)

The house is listed with a target price of $ 2.4 million to $ 2.6 million (AUD)

The house is listed with a target price of $ 2.4 million to $ 2.6 million (AUD)

Additional features include an underground storage room and a parking garage for two cars

Additional features include an underground storage room and a parking garage for two cars

Additional features include an underground storage room and a parking garage for two cars

The guide is just over $ 500,000 higher than the average price of a four-bedroom in the area, which was $ 1.95 million in 2020, according to CoreLogic sales records.

The bank conversion is in auspicious company, surrounded by charming two-story terraces and quaint Victorian cottages, in what is now considered one of Melbourne’s trendiest neighborhoods.

Once a working-class suburb on the edge of the CBD, Fitzroy has turned into one of the city’s most sought-after zip codes, filled with cafes, bookstores and art galleries, as well as a lively party scene.