Antiquated plaster peels off the walls inside the former mining exchange, revealing a light blue original wall colour, which builders plan on highlighting throughout the redevelopment.

Old toilets, a historic oven and even rusty soda cans remain at the site, which will be reopened as a hospitality venue and upstairs function space in the first quarter of 2019.

Existing features like an old music shop sign on the ground floor walkway and wooden pillars will be kept as part of the development.

Read more: Beehive works begin

Pall Mall Nominees owns the site and its director Graham McMahon (pictured) said the ‘strip back’ work was close to being completed with the renovation part of the project expected to take a further five months, before it’s handed over to a lessee who would fit out the area.

An anchor tenant is yet to be signed, but its expected to be someone from the hospitality industry, he said.

Melbourne-based builder DBG, which has completed projects for the National Gallery of Victoria and the Windermere Hotel, Kangaroo Flat, is renovating the building. Builder Brett Marris said working on a historic building has its challenges, but the brief was to retain as much of the original features as possible.  

The site was bought by Pall Mall Nominees from the City of Greater Bendigo in 2015.

The council purchased the building in 1999 with the assistance of a state government grant, taking on a stewardship role to repair the building to make it attractive to potential buyers, and spent $1 million on repair works on the building, including an upgrade of the facade, over the course of 15 years.

The building’s facade was last renovated by the COGB in 2012, and Mr McMahon said further works will be completed at a later date.