BENDIGO'S historic Beehive building has sold for an undisclosed sum in a move that could reinvigorate an area of the city where questions swirl around multiple buildings' futures.
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Colliers' agents Travis Hurst and Sarah Noble have revealed a local person has conditionally signed a purchase contract for the complex which went on sale earlier this year.
They could not reveal that person's identity on Tuesday but said they were a long-time admirer of the building and its heritage.
"We understand that the new owner intends to host a hospitality-related venue on the ground level and a gallery-type operation on the upper levels," Mr Hurst said.
The building has previously been advertised for $3.95 million but Colliers has not revealed the final price.
'Very encouraging' sign for Pall Mall but questions remain
The sale is a major win for a stretch of Pall Mall where heritage advocates have warned of an imminent exodus from multiple large buildings, including the current law courts.
Many of those changes risk intensifying problems with building preservation in an area stretching from the Alexandra Fountain to the TAFE campus.
The Beehive's sale was extremely pleasing for Bendigo's National Trust branch president Peter Cox, though he cautioned that the mystery buyer would need to respect the building's history.
"But yes, it is very encouraging," he said.
Mr Cox hopes the City of Greater Bendigo and Heritage Victoria will work with the new owner to make sure any modifications respected a site on the state's heritage register.
The council was not aware of the sale until Colliers went public but chief executive Craig Niemann said that it could help an area already popular with visitors.
"The City of Greater Bendigo welcomes the news the Beehive has sold and that the new owner has plans to make it accessible to the community.
"Bendigo has a well-known tourism brand based around arts and culture and gastronomy, so any development that complements these aims and contributes to the local economy will be great for our city and region," he said.
Broader changes could bolster Hargreaves Mall area trade
Filling the Beehive could bring a welcome economic boost to an area where multiple shopfronts remain empty, Be.Bendigo chief executive Rob Herbert said.
The Beehive's changes would join two other projects with the potential to flush that part of the city centre with more foot traffic if successful, he said.
The others are a planned hotel build directly behind the Beehive and a freshly revealed late night venue bid on the other side of the Hargreaves Mall.
"There's still some challenges there around other shop fronts that are vacant but this is still all very encouraging and all three projects - if they are completed - bode very well," Mr Herbert said.
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Previous owners set the ground floor up to accommodate a commercial kitchen during extensive renovations in 2019 and 2020.
It has the infrastructure needed for an easy fit out.
The building's multiple storeys were home to a host of businesses central to Bendigo's cultural past.
Parts of the building were built in 1872 to house Bendigo stock trading hotspot the Sandhurst Mining Exchange.
A future hospitality venue and gallery would likely trade off of that history.
The recent renovation uncovered many heritage features and secrets thought to have been lost, Ms Noble said.
"These have now been uncovered and restored," she said.
This story was updated at 3.42pm with comments from the City of Greater Bendigo.
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