The mystery bidder purchased Legacy House in MacKenzie Street for the community group after Bendigo Legacy opted to put the building up for sale.

Tweed Sutherland First National Real Estate Bendigo commercial sale and leasing agent Tom Harrop said after many experssions of interest, bidding came down to two parties on Christmas Eve.

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Contracts were signed this week making the sale - which was done in conjunction with Priority One Real Estate - final

"It has exceeded expectations," Mr Harrop said. "On Christmas Eve it was essentially an auction over the phone between two parties, they kept going at it all day.

"It was about 5.30pm before one bailed out. Both would have been worthy purchases and had very good requirements for the property.

"The Bendigo Historical Society will be using (the building) which, with due respect to the party that missed out, is a perfect fit.

"Bendigo Historical Society has been shunted from pillar to post over the years. They now have a permanent home that is ideal for them."

Legacy House was built in about 1907 and has been home to Bendigo Legacy since 1958. Prior to that it operated as medical office.

Bendigo Historical Society president Jim Evans said members were ecstatic with the news.

"It is unbelievable generosity from a person who wants to be anonymous, it blew us away," he said.

"They bought the place and wanted it for the historical society. We are unbelievably lucky.

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"It has room for our collection, our meetings, rooms for displays and for research work. It meets all requirements. The place is terrific. It's position just off View Street is a historic area near a lot of things - we are near where miners gathered on a church site for the Red Ribbon Rebellion."

Bendigo Legacy president Kenny Egan and honorary secretary Judi Perry said while it would be sad to leave their home of 64 years, it the members' decision and a positive step forward.

"(Putting it up for sale) was done in consultation with our members, they had to all agree - there are about 40 in the Bendigo region," Ms Egan said. "It was the appropriate way to do it to make sure everyone in agreeance. It went to a vote (and) it was pretty definite - everyone said yes it's time to move."

Bendigo Legacy plans to move into offices near Southern Cross Austereo in Lily Street.

"It will be sad to go but it's exciting and has been on the cards for some time," Ms Perry said. "I'm the historian at Bendigo Legacy and have been very involved because my father was a Legatee for many years.

"A couple of times in the past, most recently in 1996, they were thinking of relocating to more purpose built place but it was hounded down by some of the Legatees."

Bendigo Legacy is planning on starting a one-stop-shop for support of war veterans and their families. Funds from the sales will be able to help a number of families and start new support programs.

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"With the change in Legacy to look after families of those vets who have given their health as well as those who have given their life, we are starting to get more younger beneficiaries," Ms Egan said.

"The money belongs to beneficiaries. The sale frees up money to use for programs to use rather than having it in real estate. It has been difficult over last two years to raise funds (and) this puts us in better position to provide assistance to beneficiaries, which is our aim."

No moving dates have been set for either group but Mr Evans said society members were busy packing.

"People up at the archives in Nolan Street have been busy getting things ready to move," he said. "To be able to have everything on one site is a dream come true.

"Dudley House was our home in the 1990s and we were asked to move out for restoration, so we have been looking since the 1990s. We have moved to a lot of places, (sometimes it) felt like we were going from tent to tent.

"We were in the gaol at one stage, we have our archive place in Nolan Street, and we have Specimen Cottage, which is mainly front of house and a good place for a small community museum. I didn't expect, in my time, we would have everything on one site.

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