Central Otago District Council and Cromwell Community Board member Gordon Stewart grew up bagging lollies at the store, which his grandfather and father owned respectively.
Last week, Mr Stewart and his nephew James Stewart, who has also inherited his grandfather's name, visited the store which last week had its original steel roof removed.
Mr Stewart said the building, which fronts the main road through Bannockburn, was not stable enough to be used.
He said the roof had to be replaced in accordance with trust guidelines, although the store was not a category one, two, or three building.
"I'm not allowed to do anything with it until I do something about the stone walls as well, because they don't meetthe current earthquake standards," Mr Stewart said.
Robert Robertson, Mr Stewart's grandfather, purchased the property in 1925 and ran the store until 1946 when Mr Robertson's son (Gordon Stewart's father, James), took over.
In 1971, Mr Stewart's father died and the store had been closed since.
"Eventually, I would like to see the store used again," Mr Stewart said.
He and his brother have been doing some work on parts of the store, including repainting its street facade.