THE Bendigo and Adelaide Bank have put their Sandhurst Trustees Building on View Street up for sale.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The 161-year-old building has been the home of the Bendigo and Adelaide Bank wealth management subsidiary Sandhurst Trustees for more than a century.
The building, which is classified under the National Trust of Australia and is also protected by a Heritage Victoria listing, used to house staff from the Sandhurst Trustees.
But the Trustees moved to the bank's new Bendigo Centre on Pall Mall two years ago, with the Sandhurst Trustees Building externally leased since 2017.
"The Bank has a very strong attachment to the building, but fully understands that old buildings need to be lived in and loved on an ongoing basis," Sandhurst Trustees chairperson Jenny Dawson said.
"Given our staff have been relocated from the building for the last two years, we are not in the best position to be the ideal custodians of the building going forward."
Ms Dawson said the bank assessed the possibility of finding new tenants for the building.
"We certainly explored this option over the last couple of years, prior to making the decision to sell," she said.
"Ultimately we decided that a full transfer of ownership would open up options for the building that meet with the heritage requirements in a way that a lease arrangement does not allow."
Bendigo and Adelaide Bank managing director Marnie Baker said the bank was seeking expressions of interest for the purchase and re-use of the historic offices on View Street.
"The View Street building not only holds a special place in our corporate history, but many of our clients over the years will also have fond memories of the building," Ms Baker said.
"As a building, it has also played a special part serving the Bendigo community, providing meeting spaces for volunteer groups in addition to the commercial subletting of parts of the building in the earlier years.
"It would be wonderful to see it continue to play an important role for the next 150 years."
The central section of the building was completed in 1858 when it was first used as a post office.
The Sandhurst Trustees purchased the building 1891 for 4000 pounds and then operated from the site continually for more than 120 years.
Real estate agents DCK Real Estate and Tweed Sutherland First National will be managing the sale by an expression of interest process.
"It doesn't really surprise me that it's up for sale because we've had numerous 100-year-old properties that have been put on the market," agent Craig Tweed said.
"We appreciate that there is a natural progression with businesses where they have reasons to move on."
Mr Tweed said while he couldn't place a price on the historic building, there was plenty of potential for the site.
"The View Street arts precinct is arguably one of the most stunning parts of Bendigo," he said. "I won't be surprised if someone in hospitality buys it simply because of where it is.
"We're just very excited about the whole venture."
There will also be an open day on Sunday, September 8 from 11am - 2pm where members of the public can tour the historic building.
Have you signed up to the Bendigo Advertiser's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in central Victoria.