The 159-year-old Theatre Royal in Castlemaine was voted the best regional venue at the awards while rock band Stonefield was voted best regional act.

But Theatre Royal owners Sarah Burdekin and David Stretch said they didn't expect their names to be called at the awards ceremony.

"We didn’t expect to win. We thought that the Ballarat or Geelong venues might have won being from a more populated region," Mr Stretch said.

The Theatre Royal was also nominated against Castlemaine venue The Bridge Hotel.

"The region is certainly peaking and it shows with two of five (regional) venues nominated being from Castlemaine," he said.

Mr Stretch and his family took over operations of the theatre in 2004.

"We feel we are making a significant contribution to the cultural life of the town," Mr Stretch said.

Far from being just a live music venue, the Theatre Royal also hosts film blockbusters, screens international threatre, has a commercial kitchen and accommodation. 

And favourite moments have been too many to count. "Aside from hosting international artists and local talents, the big community events stand out," he said. 

"At any event we do the venue generates a unique atmosphere that performers and audiences always talk about."

Stonefield drummer and lead singer Amy Findlay said the sisters were really happy to receive the award.

"It’s amazing. We’re really excited about it," she said.

"Winning this award has come at such an amazing time for us."

The band is currently on a national tour which finishes in December.

Stonefield was set to support Fleetwood Mac in November before the British band was forced to cancel its tour after bass player John McVie was diagnosed with cancer.