We are in front of the former Colonial Bank of New Zealand, which opened on Thames Street in 1876. At the time, this young bank sought to compete with the Bank of Otago by opening several branches across New Zealand.
The original building holds significant architectural, historical, and social value, both for its role as a provincial financial institution and for its notable contribution to the urban landscape of downtown Oamaru.
In 1895, the Bank of New Zealand acquired the Colonial Bank and occupied the building until 1969. The Oamaru Operative Society moved in afterward.
Since 2015, the former Colonial Bank has housed the Oamaru I-Site tourist information office.
Before the creation of New Zealand’s central bank in 1934 (the Reserve Bank), each bank issued its own paper money. The value of a note depended entirely on the trust merchants placed in a given bank.
If rumors of a bank failure spread, your note could lose all its value. But Colonial Bank notes were true works of art, difficult to counterfeit, featuring intricate portraits, New Zealand landscapes, and extremely detailed engravings—reflecting the architecture of the building that housed the magnificent Oamahu branch.
The birth of the district began in 1853, when the first European settlers established themselves in Oamaru.
By the end of the 19th century, the port quickly became the vibrant heart of the town and its vast agricultural hinterland. Grains and wool were stored in sumptuous, richly adorned buildings, crafted from Oamaru's famous white limestone, quarried nearby.
Driven by the growth of the rural economy, the port area gradually transformed into a bustling place where businesses, banks, hotels, and new industries thrived.
Even today, the majestic white stone buildings of the historic district near the port stand elegantly, bearing witness to a flourishing past. They now host an eclectic mix of curiosity shops, restaurants, souvenir stores, an automobile museum, a hotel, a fascinating bookstore, traditional artisans, the Oamaru steam train, as well as charming Sunday markets.