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I would use 'of which one...' only if I were then going on to say something about the other(s). Example: I have two books, of which one is mine and one is borrowed.
"one of which is mine" would also work in that context. "The bank across the street, of which I am the manager, is up for sale" could not be rephrased in the same way, but I must confess I am at a loss as to the rule which means only the inverted form is appropriate in this final case.
It's grammatical, but unlikely in authentic speech. What you would probably hear would be something like 'Yeh, I've got these two books, see? They're not both mine though. I borrowed one from a mate.'
@Christi: the difference is that one is the subject of the relative clause, but the manager isn't . The bank across the street, the manager of which is a friend of mine, ... is grammatical, if stilted.