The historic Loan and Merc building has already been identified as one of the trust's key buildings requiring substantial investment in the next five years.
The three-storey building on the corner of Harbour and Wansbeck Sts had a lot of potential but required significant work before all three floors could be fully utilised, Oamaru Whitestone Civic Trust chairman Peter Garvan said.
The trust was ''seriously'' considering installing a lift in the building, to solve access issues.
''That space at the top level is outstanding,'' he said.
''If we can solve those issues, it can be a pretty exciting space.''
The trust would be working closely with the main building occupant, Housekeepers Design, to minimise disruption.
The trust secured grants for more than $40,000 to go towards the cost of the structural strengthening report.
Once the full report was received in February, major strategic goals would be established, Mr Garvan said.
''We are giving priority to the ongoing maintenance of our buildings. They need painting, new roofs and gutters and they need to be preserved for future generations to enjoy.''
The board was likely to take a ''lesser role'' in marketing the precinct and instead focus on its core responsibilities to preserve the ''wonderful'' Victorian buildings, Mr Garvan said.
The trust had continued to support its tenants in the marketing of the Victorian Precinct, for the second year in a row, and had spent more than $6000 in promotions in a bid to attract more tourists to the area.
''Our trustees are passionate, unpaid volunteers, committed to the success of the harbour-precinct area [and] we are thrilled that both locals and tourists are using the place like never before,'' he said.
''We are keen to build on the very successful Victorian Fete and encourage more winter events.''
It was encouraging to see more businesses extend their opening hours this season, Mr Garvan said.
The trust was thrilled to see developments in the wider precinct area, such as Scotts Brewery's expansion, the opening of Tees St cafe, and the soon-to-be-opened Steampunk cafe ''The Galley''.
''It's not all about us, it's about the whole area and coming together,'' he said.
''We want heritage-type businesses in the whole area ... We're not just a narrow group looking at our 13 buildings.''
