At 11:55pm on Monday 1 July 2014 members of Tasmania Fire Service and Tasmania Police attended a structure fire at the Commonwealth Bank situated at 154 Elphin Road, Newstead.

The fire was contained to the rear section of the building which suffered severe damage. The fire is still being investigated and the cause is yet to be determined.

Value of damage has been estimated at between $250,000.00 and $300,000.00