A heterobimetallic 1:1 cocrystal, [Mn(L)Cl][Co(L)Cl]·2H2O (1), where H2L = 2,2'-[propane-1,2-diylbis(nitriloeth- 1-yl-1-ylidene)]diphenol, have been obtained by the reaction of equimolar amounts of MnCl2, CoCl2 and the tetradentate Schiff base ligand (H2L) in acetone. The complex has been characterized by microanalytical, spectroscopic, thermogravimetric, single crystal X-ray diffraction and other physicochemical studies. Structural studies reveal that 1 comprises two mononuclear units, one of Mn(III) and other of Co(III), both assuming distorted tetragonal pyramidal geometries. The isostructural complex units in 1 and the adduct water molecules are held together by weak intermolecular H-bonding to constitute fascinating supramolecular network in its solid state. The antibacterial activity of the complex has been tested against some Gram(+) and Gram() bacteria.