Built in the Italianate Renaissance Revival style popular at the time, the building suffered damage during the 1989 Newcastle earthquake and reopened as a hotel in 1995.

[1] In the 1960s, the building was repainted and underwent several interior and exterior renovations, which was later found by National Trust of Australia (NSW) to have damaged the integrity of the stonework.

$4 million was allocated for remediation works, and between 1990 and 1994, the building underwent major renovations using reinforced concrete and steel to help it withstand seismic events.

[9]Designed in the Italianate Renaissance Revival style and built in two major phases, the building was planned along an elongated east-west axis, with a 32-metre high (105 ft) tower at the western end, and a slightly projected bay at the eastern end with a basement area underneath.

[11][12] Listed on the New South Wales State Heritage Register, the building's architectural excellence and historical significance in relation to Newcastle's maritime and commercial history are recognized.

"The architectural excellence of Barnet's original 1877 building, including external fabric and details, is largely intact.