Owner Steve Olivieri is excited about the prospect but said there was plenty of work to be done inside the building before he opens in October.

His business employs eight staff and that number will grow with the new venture.

The historical significance of the building is not lost on Mr Olivieri, who remembers in 1990 how part of the upstairs section was dedicated to handles of all types.

“You could get just about anything in that shop. The old section upstairs had axe and pick handles or handles for anything,” he said.

“I’ve got a lot of time for local history and I’d like to continue the retailing success that building has provided the CBD.

“I’m hoping to find an old photo of the building. I’d like to have the photo blown up and installed in one of the windows, like the Commonwealth Bank has done,” Mr Olivieri said.

“There’s still a bit of work to do on things like fire exits, security and lighting but with so much more space I’ll be increasing our range and adding more Australian-made products,” he said.

Mr Olivieri said he had plans for a new business venture next year in the current store.