The stone cottage currently named Banool that still stands in Martin Place Linden was built by E.W. Cansdell - a storekeeper - of Nimmitabel. It was built on the foundations of the intended, but never finished, ‘mansion’ started by Sir James Martin. Part of the foundations is thought to have gone into the erection of the later building. It is located on part of the 28 acres on land that Cansdell and Austin Chapman jointly owned and sub-divided to become the Blue Mountains Estate.
On sub-division plans the house, thought to have been built c1908, was referred to as the Bungalow. In 1914, the home is thought to have been purchased by J.J. Anderson. Subsequent owners were: R. Southouse 1920s, Frederick Marks 1922-1943, and Mr. McIlwraith 1943-1983. It was one these subsequent owners who altered the name to Banool.
In 1983, the 41 square residence located on 0.6 hectares of land sold at auction for $213,000.