Pratty's Patch has operated as a pub since 1996, and during a period where the suburb has undergone a dramatic transformation from a sleepy suburb on the rural outskirts of Bendigo to one of the city's biggest and most populated residential areas.

City of Greater Bendigo data shows Maiden Gully's population has surged more than 80 per cent in the past 15 years, outstripping almost every other suburb across the municipality.

While the historic Pratty's Patch building has also been through several changes during its rich history, the current owners have been at the helm for the past 18 years.

The property boasts a liquor licence for 180 patrons, and sits on approximately 6569 square metres of land fronting Monsants Road, less than 10 minutes from central Bendigo.

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Listing agents are Colliers Ballarat and Geelong.

Senior executive Travis Hurst said it was rare to see a freehold and leasehold come onto the market in one offering.

"Particularly one such as Pratty's Patch where there is so much potential to add to the business as well as further develop the freehold.

"We expect that most interest will be generated from owners and operators from our major metropolitan areas such as Melbourne and Sydney as well as some interest from across regional south eastern Australia."

The Pratty's Patch main building is more than 150 years old, and is of stone and brick construction. The venue was converted into a restaurant during the early 1980s. The large function room was extended about a decade later, and the public bar added 25 years ago.

The property also includes a complete commercial kitchen, bar and dining room.

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The popular venue's name has been attributed to Peter (Pratty) Monsant who lived with his family in the house for more than 50 years.

The Monsants were a well-known family with a rich Spanish history who grew tomatoes for market in the surrounding 48 hectares.

The Monsants contributed much to the general amenities of the locale at the time. Dances were held in the front room to the music of a wind-up gramophone.

The room had a large open fireplace and oil lamps, and many a happy evening was held there. Each week in summer, cricket matches were held on flat land across the road and apparently everybody drank tomato wine.

Selling agents Colliers will also offer a vacant block next to 35 Monsants Road for $400,000, which includes an extra 4,568 square metres of land on a separate title.

The main property, Pratty's Patch at 35 Monsants Road, is listed for sale at $3,500,000 on a walk- in, walk-out basis.

The whole of the property is zoned General Residential (GRZ) under the City of Greater Bendigo Planning scheme.

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