Central business district buildings that house Bendigo Bank and ANZ Bank sold

Expressions of interest for the buildings closed on March 10 with more than 120 inquiries submitted.

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Colliers, which was appointed to sell the buildings located at 87-89 Mitchell Street and 91-93 Mitchell Street, is not disclosing the sale prices.

Colliers senior executive Travis Hurst said inquiries came from Melbourne, Sydney and Brisbane as well as the Bendigo region.

He said private and institutional investors recognise the long-term stability and growth of major regional centres like Bendigo are increasingly competing to acquire quality commercial property investments.

"Despite the anticipated rise in interest rates for commercial lending, investors are still keen to acquire property," he said.

"This is largely driven by the fear of inflation in the Australian economy and is reflected by the strong demand from investors to see their cash placed into investments that not only yield a return but will also increase in value in line with or exceeding inflationary pressures.

"This demand from sophisticated and wealthy investors is further driving up commercial property values and having downward pressure on sale yields."

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