The revelation comes as council faces an increasingly hostile business chamber that believes it made a “reckless” error of judgement to spend nearly $1 million acquiring the main street building.

Griffith Business Chamber president Paul Pierotti has rounded on the decision and said it was a “knee jerk reaction” made with “zero consultation”.

“$900,000 is a hell of a lot of money for a vacant main street property,” he said.

“I don’t know of a single businessperson who would do that.”

Mr Pierotti, who sits on the Business Development and Major Projects Committee, first found out about the decision via a post on Facebook.

“There was significant consultation about the Griffith Aquatic Centre but zero consultation with this,” he said.

“We do not believe there should have been any sense of urgency.”

Councillor Dal Broi said council purchased the building at a “significantly” reduced figure on the initial market offering.

He said the last valuation for the Banna Avenue property came in at $1.1 million – more than what was paid.

“The question I ask those that knock it, and are opposed, would they have liked to see it sold commercially, knocked down and rebuilt with something in contrast to the state bank building and our library? The Clock is not heritage listed,” he said.

“Council has a responsibility to future plan.”

Council has justified the purchase of the building through its long-term strategy to develop a cultural hub in the city centre.

Council said it would consider opportunities to lease the building in the interim. 

​Mr Pierotti has questioned the lack of detail surrounding the long-term vision.

“Wouldn’t you make that plan before the spending of ratepayers funds?” he said.

“There has been six restaurants go broke in that building already. We are unaware of any detail on how council will do better.”