UPDATE, 2pm: Police believe two aerosol cans were set alight and resulted in a small amount of smoke coming from the building in Garsed Street.
Sergeant Jason Bourke said there was no visible fire.
"There were a couple of explosions heard and a small amount of smoke coming from the building," he said.
"We believe the only things that caught fire were the aerosol cans."
Nobody appeared to be injured and no damaged was caused.
"The building has been vacant and derelict for a long time," Sergeant Bourke said.
Sergeant Bourke said communities needed to be vigilant on total fire ban and high fire danger days.
Anyone with information should contact Bendigo Police on 5448 1300.
EARLIER: Fire crews are responding to a fire in an old ice factory in Garsed Street.
CFA crews were called to reports of a structure fire at about 1.10pm. One brigade vehicle and two pumpers have responded to the incidents.
Police and paramedics are also on scene.
Garsed Street is closed at the Arthur Street intersection while emergency services work to control the scene.
A resident along the street said there was antisocial behaviour in the area "24/7".
They said there had been a number of fires in the past and if something wasn't done about the old Gillies pie site it would probably end up going up in smoke.
The said the antisocial behaviour was stressful for residents along the street.
More to come.
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