The building is an important historical landmark in New Zealand, being the church of 19th century Presbyterian minister the Rev Rutherford Waddell, who spoke out against sweated labour and preached the famous "sin of cheapness" sermon there in 1888.
Coptic Church board of trustees member Bichoy Fahmy said the church had owned the building since 2000.
The church, originally based in Egypt, Northeast Africa and the Middle East, was the place of worship for about 15 families in Dunedin, including three from Ethiopia, but that sometimes rose to as many as 30.
It had a conservation plan for the building, developed with funding from the Dunedin City Council heritage fund.
That showed it needed earthquake strengthening and repairs to water-damaged areas.
The next step was to get a design plan for those problems to be fixed, something expected to cost $23,000.
Mr Fahmy said the building was interesting because it was Presbyterian on the outside but Middle Eastern on the inside.
Once it was repaired he hoped to add it to cruise ship tours.
It could also be a place artists could visit to see the artwork it contained, religious art that was an "extension of hieroglyphics".
There was also a hall downstairs he hoped could be a restaurant serving Middle Eastern food.
Dunedin City Council heritage policy planner Dan Windwood said he was "looking forward to receiving an application to the heritage fund soon for the next stage of the work they need to do for strengthening".
The church was "doing all the right things" by identifying what needed to be done to the category 1 historic place, which was designed by Robert Lawson.
The building was significant because of the leading role the Rev Waddell played in exposing sweated labour in Dunedin.
"A lot of social reform came from there.
"It’s very important architecturally and socially in Dunedin and New Zealand."
