After four years of development and more than 12 months of labour, the Beehive building is six weeks away from completion.
The iconic building was purchased by Pall Mall Nominees from the City of Greater Bendigo in 2015 and director Graham McMahon said he hoped the Beehive would be open to the public by early 2020.
"We're probably six weeks away from finishing the renovation to our point where we hand it to a tenant," he said.
"We can't discuss or confirm who it might be. No one is confirmed but (whoever it is) will do their fit out to their requirements and lease it out.
"Their fit out might take three or four months and, fingers crossed, in early next year there's something here and up and running.
"The rooms at either end could be function rooms but day spas, private dining, cafes, shops and retail are all sorts of things that are possible. But I think it lends itself to a hospitality offering."
Mr McMahon said development inside the Beehive had focused on restoring much of the building to its former glory.
"We hope it is used in an enriching sort of way, where it rekindles memories but lets people enjoy the space," he said. "We have done the restoration sympathetically and it's going to be a showcase for Bendigo.
"The atrium is spectacular (and) the void being reinstated will change building dramatically.
"There is a huge amount of interest from Bendigo locals and expats who all seem to have some connection with the mining exchange, whether they worked here, their family had a business here or they used to go to the cafe. There's always some connection with Beehive."
The Hartley family, whose family business Hartley's Gun Shop was situated in the Beehive building for almost 60 years, toured the space on Saturday.
Meredith Hartley's father owned the store and she has vivid memories or running up and down the stairs as a child.
"There used to be a narrow, wooden corridor and, if I had to use it, I would run quickly because it was dark and scary. But now it is so full of light," she said.
"We had Hartley's Gun Shop that would have been from the early 1940s and Dad moved out in 1997.
"We also did boot repairs. We had a dumb-waiter downstairs that would take the boots upstairs where they were repaired.
"Dad tells me he used to do the leather stops for South Bendigo's football boots when he was in primary school. He's 82 now, so that would be 70 years ago."
Meredith said seeing the heritage and history of the building being restored was pleasing.
"I used to want to win Tattslotto so I could buy it and do it up because I could see how gorgeous it would be," she said. "I'm really pleased they are playing up to that heritage.
"Downstairs at dad's shop, which is being kept, there was this brass around the window. We would be paid two bob to clean the brass. It's just gorgeous.
"Whether this has apartments, specialty boutique shops or a day spa (go in here), I hope it is something worthy of the building.
"You see similar set ups in Melbourne and Sydney and it makes me think what Allan's Walk could be. So I hope it's something more boutique than something that would take it backwards."
Mr McMahon said the Beehive building will host two days of tours at Open House Bendigo on October 26 and 27.
"It will open for tours on those two days but will open (officially) to the public once the tenant is in and the fit out finished next year," he said.
For more details on Open House Bendigo visit www.openhousemelbourne.org/bendigo-2019
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