The funding has been approved under the federal government's Capital Grants Program to develop an art and music teaching area and to create two new classrooms.

The school's co-principal Mick Chalkley said the new facilities would be a "massive boost" for St Peters.

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"We've been using a couple of portable classrooms for that purpose (art and music) which are 40 years old and are well and truly past their use by date," Mr Chalkley said.

"We're also renting two portables as well.

"This funding will bring everything under the one roofline and we can stop leasing those two portables.

"The portables were deemed okay for a long time but with the styles of teaching now they're no longer fit for that purpose."

Mr Chalkley said the process to obtain funding for the refurbishment has taken about two years.

"We met with architects and re-did our master plan and this came out of that as stage one of six stages.

"We don't have the funding yet for the other five stages but this is a start."

The refurbishment will take place within the current school building and will also include an upgrade of toilet facilities.

"We've gone away from the days of separate boys and girls toilet blocks," Mr Chalkley said.

"They'll now be individual cubicles with disability access which best serves our current clientele."

Liberal Senator for Victoria Sarah Henderson said the $1.4 million funding injection will enable construction to begin on the new facilities in 2022.

"I am delighted that students and staff at St Peters School Bendigo North are set to benefit from exciting new art and music facilities which will really revolutionise the learning environment for so many young people from this area," Senator Henderson said.

"St Peters has a wonderful school community, and these new facilities will further enhance the learning environment."

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With 2022 being the 50^th anniversary of St Peters Primary School, Mr Chalkley said it loomed as a big year for the school.

"We need to get a planning permit from council and then go to tender," Mr Chalkley said.

"We hope to go to tender in the first half of the year and start building in the second half."

The school's 50^th anniversary celebrations are slated for Sunday, July 24 with the hope building can start immediately after that.

"It's an exciting year with our 50^th and a building project - it's terrific," Mr Chalkley said.

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