CBR Properties Ltd has bought the building from Ashburton District Council.
The directors of CBR Properties Ltd are Barry and Chris Redmond.
The Redmonds' own the neighbouring heritage-listed Cates grain store building, as well as the Ashburton Arcade and other buildings in the town centre.
The district council plans to put money from the library sale towards the estimated $62 million cost of Ashburton’s new library and civic centre, Te Whare Whakatere.
The old library building site on Havelock St has sat empty since the service relocated to Te Whare Whakatere in January.
Advertised for sale as a "high profile development site" with a land area of 3053sq m, the library was opened in 1967.
The building was built by Bradford Construction in 1966 and was sold as is.
The site included a car park.
While the district council also planned to sell its former administration building, a district council spokesperson said last week no decision on that had been made.
