The former Hashtag Public Bar and Solsbury Hill site will open as a new bar and tavern next month.
New owner and director Paul Jarman, who already owns Stella Bendigo and other businesses in Echuca, said he was hoping to revive the site as the Kennington Tavern.
"It was sitting there empty for so long and, like everyone else, we were driving past it a lot of times," Mr Jarman said.
"Basically we want to reopen it as a pub and tavern but with a very strong focus on food. It will be a very food-led venue, including woodfire pizzeria, woodfire grill, and an extensive wine list.
"But we also want to make sure that it's food that appeals to families and kids. It will also have functions and events upstairs."
Kennington Tavern will open in September following minimal refurbishment works.
The site on Condon Street, Kennington was last open as Solsbury Hill, before it closed in late 2018.
Before then, it operated as the two-storey pub Hashtag Public Bar. The bar opened 2014, with the then-owner telling the Bendigo Advertiser he hoped to develop the concept into a national franchise.
It closed in November 2016 and entered voluntary administration. Creditors voted to wind the company up the following month.
Mr Jarman said he and his business were "not connected" to any of the previous tenants.
"We're new people within the site and I'm just looking forward to look forward," Mr Jarman said. "I think it's smart to acknowledge that what has happened at the site has happened and it's not great.
"But we think it's still a great opportunity and it's up to us to make sure that we do a good job and get support."
The tavern will be open seven days a week for lunch and dinner, along with brunch on the weekends.
Mr Jarman said he saw the Kennington site as a great business opportunity in a burgeoning region.
"I was curious, to be honest, about why it was left vacant for so long," he said. "We saw an opportunity there. We have seen that Bendigo is growing, especially that area out there in Kennington and Strathdale."
Mr Jarman's latest venture in the city follows his Stella Bendigo restaurant, which opened on Bull Street more than two years ago.
"While spending time in Bendigo with that business, we saw this opportunity pop up," Mr Jarman said.
"We've been working with the landlord for three or four months and we finally settled on a deal about six or eight weeks ago.
"We've enjoyed our time in Bendigo and hopefully this business will help us enjoy it even more. We're looking forward to the challenge."
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