The 162-year-old building on View Street was the home of the Bendigo and Adelaide Bank wealth management subsidiary Sandhurst Trustees for more than a century.

New owner Peter Valentine is a third-generation antiques dealer for Valentine's Antique Gallery.

"It's a very exciting opportunity for us," he said. "We're a long-term Bendigo business. We have been around since 1947 so to be in a heritage building like this is very exciting for us.

"We've been importing from the UK and France for well over 40 years and we bring an international quality of antiques to Bendigo.

Read more: Bendigo Bank puts former Sandhurst Trustees Building on the market

"We're going to make it a very interactive centre. There will be lectures on art, antiques, and interior design.

"So we will be opening up a section of it for other antiques dealers in specialist areas, so there will be a wealth of knowledge that is always working here."

Mr Valentine will receive the keys to the property on May 15, with the business to be open to the public from late June.

"We will be refurbishing inside - carpets, repainting," Mr Valentine said. "We'll bring it up to the standard we want it, which will take about four to five weeks."

Mr Valentine said he was confident the new hub would draw in people from around the country.

"Our clientele does stretch Australia-wide," he said. "We do major fairs in Melbourne and Perth regularly. We will be encouraging a lot of people to come to Bendigo and have a look at what we've got."

Read more: Bendigo Bank sells Sandhurst Trustees Estates business for $5 million

The View Street building is classified under the National Trust of Australia and is also protected by a Heritage Victoria listing.

The building 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.

The Sandhurst Trustees Building was externally leased from 2017.

Sandhurst Trustees chair Jenny Dawson said it was great that a Bendigo business still owned the property.

"It is a magnificent building and we are very pleased that Peter and his family company have been successful in their acquisition of this Bendigo landmark," she said. "We wish the new owners all the very best for the future.

"We look forward to seeing the building take on an exciting new role that will still enable people to visit and appreciate the hidden architectural beauty and craftsmanship within."

The building was sold via an expression of interest process managed by DCK Real Estate and Tweed Sutherland First National.