The cost of the kerosene lanterns that fuelled the Kera buildings in the 1950s and 60s was estimated at $3.5 million to 5 million dollars.
But the Koser Building Materials Company, which was responsible for those lanterns, is now valued at $10.8 million.
“It is an incredible piece of history,” Mr Koser said.
“We are just a small family enterprise and we have had a big impact on the community and our neighbours.”
I think it will be a huge loss to the community.
“The Kera Building Materials Co, which is located in the western suburbs of Sydney, is one of four businesses that have lost money from the kerosene lantern boom.
Kera’s current business was established in 1949 by Mr Keker, his wife Alice, their two sons and their daughter.
In a statement to News.co.nz, the company said it was “incredibly fortunate” to have been a part of the boom and that it had “built an incredible history” and built “many great businesses”.”
We will continue to build and upgrade our business, and I am confident that we will continue doing so.””
I believe that the value of these buildings has gone up in value because they were the source of the electricity that powered the Kero-solar plant in the 1970s.
We will continue to build and upgrade our business, and I am confident that we will continue doing so.”
We have the support of our local community and will continue our work with our partners to restore the community’s sense of pride in the building and their heritage.
“”We hope to have some more lanterns of our own in the future,” the company added.
Mr Keker is now planning to turn his focus to restoring the historic Kera building.
The company said the lanterns will be “repaired and refurbished to a high standard” and the building will be refurbished into a museum and museum building.
Mr Koser told News.org.au he would like to see the lantern’s history and history in the community preserved.