Pall Mall's historic Beehive Building, designed by architect Charles Webb, is being restored and prepared for lease.

The building is steeped in history, dating back to its nine month rebuild after a fire gutted the premises on August 25, 1871.

The Bendigo Advertiser at the time reported, 'the first indication of the premises being on fire was observed at about 6 o'clock in the morning, when some early passers-by detected a glare through the shutters of the drapery'.

The building's latest restoration, nearly 150 years since its rebuild, is a joy to see, according to Bendigo Historical Society president Jim Evans.

"In the 1870s, Bendigo was as well known as New York and London," Mr Evans said.

"It was a really boom time for the region.

"The Sandhurst Mining Exchange was in the Beehive Building and that's what is now being restored."

A restoration that has been so long in the making takes time, something builders are seldom afforded nowadays, according to site supervisor Phillip Di Donato.

"You get lost in the building's many nooks and crannies that capture your attention," Mr Di Donato said.

"The building just sucks you in."

Mr Di Donato has lived in Bendigo his entire life and has fond memories of the Beehive Building.

The 30-year-old recalls the buzz of activity the building and its surrounds generated.

"I would go into the building as a little kid with my parents and all the stores were open," Mr Di Donato said.

Within two months the building will be fully transformed, Mr Di Donato said.

A specialist in renovation and restoration projects, working on the Beehive Building is unlike anything he has seen in his 15-year career.

"The time and effort that has been spent on details of this project is like no other I have worked on," he said.

"Generally, we can't spend time and take our time to build.

"Nowadays, builds aren't as complex."

It's what's behind the walls and what was contained within them that adds to the building's intrigue.

"When we start a restoration, it tells a story and when you look at what's come before, you can see how far we have progressed," Mr Di Donato said.

"There were cast columns to hand riveted new age steel to newer steel again that has been preformed and moulded to reflect what we use today."

Colliers International is tasked with identifying an appropriate tenant for the building and managing director Andrew Lewis said the building's architecture is what makes it stand out.

"It takes Victorian grandeur to a whole new level," Mr Lewis said.

The ground up restoration will include provisions for a ground floor restaurant or bar and a lift to the upper two levels.

The ground floor of 650 square metres includes a walkway connecting the entrance of Pall Mall to the remainder of the building.

The first floor features two architecturally detailed function rooms and 10 smaller meeting rooms.

The second level boasts four individual offices and ancillary space.

"The building is flexible and could be suited to a brewery, gin palace or a series of restaurants," Mr Lewis said.

The building's 1440 square metres is available to lease for $250,000 per year plus GST and outgoings, with licence to hold 650 people.

This Weekend Advertiser article is the first of a series that details the restoration of the Beehive Building.