Colliers’ Travis Hurst and Matthew Bowles of Dungey Carter Ketterer (DCK) have been appointed to sell the iconic, heritage former home of the Bendigo Mining Exchange.
Built in 1872 to accommodate the Bendigo Mining Exchange, the building once housed the offices of sharebrokers on the first floor who from their balcony would trade shares with traders on the ground floor. On a busy day in the 1880’s, the building could see up to 2,000 traders and a further 5,000 shareholders out the front buying and selling shares in speculative mining companies.
“We are very pleased to be appointed as marketing agents in the sale of this significant piece of Bendigo’s history,” Mr Hurst said. “Our appointment was based on advice that the property be directly marketed locally and nationally to experienced investors that have capacity and vision to put to good use this grand building and revive its glory days.
“We believe that the interest generated by the sale of such a significant property will come from investors and owners who have a strong track record in developing and adapting the re-use of significant heritage buildings.”
Mr Bowles said there were an incredible number of significant heritage features that were uncovered and revived during the restoration of the building in 2019. So much so that the owners were recognised with the ‘Lachlan Macquarie award for heritage architecture’ at the 2021 Australian Architecture Awards as well as the ‘John George Knight Award for Heritage Architecture’ at the 2021 Victorian Architect Awards.
“‘This building has played a key role in the rich history and heritage of the Goldfields of Central Victoria,” he said. “It is one of only two Mining Exchange buildings constructed in the era. In recent years, the ‘Beehive’ building has been fully restored back to life. It forms an intrinsic part of the council’s CBD development plan and is vital to Bendigo’s CBD future entertainment and tourist precinct.”
The property has seen many uses since its days as a mining exchange, including a variety of retail outlets and upstairs offices. Most notable of these is perhaps ‘Allan’s Music’, who purchased the building in 1927 and constructed the ground floor shops creating ‘Allan’s Walk’.
The building has significant frontage to Pall Mall (Midland Highway) and pedestrian access through to Hargreaves Mall at the rear. Having recently been completed under new permits the ground and first floors are fully DDA (Disability & Discrimination Act’) compliant.
The open ground floor includes provisions for a commercial kitchen, bar and amenities that has the potential to cater up to 600 people throughout. One of the most beautiful features of the building is the central pitched glass roof and ornamental ironwork, which is compared to the Royal Arcade in Melbourne.
The first floor boasts two function rooms both with significant architectural detail and a further ten smaller function/meeting or retail spaces. The second floor comprises another 4 rooms that are yet to be completed, allowing the purchaser the opportunity to add to the rich history of this iconic building. There is lift access to all levels.
“Significant commercial buildings within Bendigo’s CBD have always been very tightly held,” Mr Hurst said. “Bendigo has experienced significant growth over the last 18 months and the time for this sale could not be better.
“The successful buyer of this property will have a unique opportunity to build on the history of this building and become an important part of this vibrant city.”