Loan and Mercantile Building

Built in 1882, and originally built as a grain warehouse the building has had a number of roles subsequently, including housing a whisky company. The building is now home to an event centre.

In the 19th Century the NZ Loan and Mercantile Company Ltd was the largest stock station agency in the New Zealand. From its beginnings the warehouse contained 3 reciprocating hydraulic engines powering 3 elevators over 3 stories. They operated until electricity took over in 1916.

The hydraulic power came from the Oamaru Borough Council public water supply. A reservoir 97 metres above the town was fed by the Oamaru Water Race. Water was taken from the Waitaki River and transported in the open race to Oamaru over a distance of nearly 50 kilometres. Included in the system were an intake structure, a stilling pond, 19 aqueducts and 6 tunnels. The race functioned for 103 years. Interpretation panels in the warehouse tell the story. "The race runs along a range of small hills on the true right hand bank of the Waitaki River to Papakaio, where it turns "inland" and, then running parallel to the ocean edge it terminates at an open reservoir which still functions as Oamaru's town supply reservoir." The water supply system has the distinction of being one specifically designed for hydraulic power as well as public water supply. Anyone interested in visiting the the route of the waterway should contact Bruce Comfort on 03 434-2094.