Historic White Hills property Langley Hall has been withdrawn from sale, with the move confirmed a day before it was due to go up for auction.
Langley Hall has been on the market since mid-2018 and was scheduled for auction on Saturday at 2pm.
But on Friday, agent John Castran confirmed the Napier Street property had been withdrawn from sale.
It is not yet known why it has been taken off the market.
Last year, Mr Castran had put the imposing property's price tag around the $2.9 million mark.
The property - which was built in 1904 for Bendigo's first Anglican bishop Henry Langley - was purchased by its current owners in 2010, for use as a function venue and bed and breakfast.
Data from Domain suggests it was purchased at that time for $1.61 million.
Jim Evans, from the Bendigo Historical Society, said it was not known why a more central location was not chosen for the home of the first Bishop of Bendigo.
The home was designed by famed Bendigo architect William Charles Vahland and John Beebe.
After Henry Langley, the home was occupied by the second Bishop of Bendigo - his brother, John Langley.
"It's certainly significant," Mr Evans said of the property.
But the third Bishop, Donald Baker, chose to move to central Bendigo, making his home at Bishopscourt on Forest Street.
Since then, Mr Evans said, Langley Hall had been used as a Red Cross hostel, a theological college, a home for unwed mothers, and St Luke's toddlers home.
The property has 15 bedrooms, 10 bathrooms and enough parking space for 20 cars.
The mansion and other buildings - which include a chapel and sheds - cover more than 1200 square metres, while the grounds sprawl over more than 9000 square metres.
The home is built from solid red brick with ornate roof eaves and gable ends, stained glass windows, and original decorative features inside.
Domain figures show that prior to its 2010 purchase, Langley Hall was sold for $920,000 in 2001 and $75,000 in 1993.
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