A key heritage CBD building, previously home of the Bendigo Mining Exchange, has been put on the market for sale.
Colliers International and DCK have been appointed by the City of Greater Bendigo to sell the landmark property, located at 24-26 Pall Mall in central Bendigo.
Travis Hurst of Colliers International and Robert Ketterer of Dungey Carter Ketterer Real Estate Agents are marketing the property:
“We are very pleased to be appointed as marketing agents on behalf of the City of Greater Bendigo,” Mr Hurst said. “Originally built in 1872 as a part of the ‘Beehive’ building complex, this property has played a significant role in the history of Bendigo and the nearby goldfields.
“Today, the building forms an intrinsic part of the council’s CBD development plan and is vital to Bendigo’s CBD future entertainment, retail and tourist precinct.
“Our appointment is based on advice that the property be directly marketed locally and nationally to experienced and capable developers that have capacity and vision to restore this grand building and revive its glory days.”
The property has seen many uses since its days as a mining exchange, including a variety of retail outlets and upstairs offices. Most notable of these is perhaps ‘Allan’s Music’, who purchased the building in 1927 and constructed the ground floor shops creating ‘Allan’s Walk’.
The building has significant frontage to Pall Mall (Midland Highway) and pedestrian access through to Hargreaves Mall at the rear. It is zoned Commercial 1 under the City of Greater Bendigo Planning Scheme.
Mr Hurst said the building had scope for development in many applications, including a mix of retail, office, accommodation, restaurant or inner city residential.
“This building will appeal to developers experienced in heritage buildings,” he said. “The property will very much suit a ‘custodian’ who has the capability, capacity and experience to restore the building and apply their own touch, creating an investment for the 21st century.
“This is a fabulous opportunity to for commercial developers to expand on the adjoining Myer, Hargreaves Mall and entertainment precincts of the CBD.”
Mr Ketterer said property within Bendigo’s CBD was very tightly held.
“This offering represents a rare opportunity to secure a significant building fronting Pall Mall, in the very heart of Bendigo,” Mr Ketterer said.
“Bendigo has experienced significant growth over the last two years and the timing of this sale could not be better.
“The successful buyer of this property will have a unique window for profitable development and become an important part of this vibrant city.”
