A heritage grant of nearly $870,000 from Christchurch City Council will help the new owners of the Midland Club building pay for its restoration.
The 82-year-old Italian palazzo-style building occupies a prime spot on Oxford Tce, between Gloucester St and Worcester Boulevard, and before the earthquakes was home to Caffe Roma.
The building was badly damaged in the quakes and sat untouched for several years, but recently it changed hands and the new owners, Club Lane Ltd, have decided to fix the building and restore it to its former glory.
They estimate the work will cost about $1.8 million.
After receiving a heritage grant application from Club Lane, Christchurch City Council has agreed to contribute $869,500 towards the cost of that work.
Money for the grant will come from a special fund the Council set up after the earthquakes to help save landmark heritage buildings in the central city.
A full convenant will be placed on the Midland Club building as a condition of the grant.
The building was designed in the 1930s by architectural firm Collins and West and built to house the Midland Club, which was one of Christchurch's gentlemen's clubs. The Midland Club was particularly involved in the development of cricket in the city and one of its members, Daniel Reese, went on to become a New Zealand representative and noted cricket administrator.
Among the club's members in the 1930s was then Prime Minister George Forbes, who welcomed the Duke of Gloucester to the building during a royal visit in early 1935.
Falling membership in the 1980s resulted in the club's closure and the premises were sold in 1991. The building was then reconfigured to house a cafe, a hair salon, offices and an apartment on the top floor.