$1.25m sale of ‘Bendigo Antique Market’ could pave the way for new High St speak-easy bar

A chance to redevelop a piece of Bendigo’s “retail heritage” from 1870 has been tipped as one of the city’s “most attractive investment opportunities” on the market.

The former "Bendigo Antique Market" on High St in Bendigo's CBD has hit the market for $1.25m. Picture: Priority1 Property.

A piece of Bendigo’s “retail heritage” could be redeveloped into a new speak-easy bar or restaurant in what has been tipped as one of the city’s “most attractive investment opportunities”.

The former “Bendigo Antique Market” built circa 1870 on High St in Bendigo’s CBD has hit the market for $1.25m.

The building is divided into two separate tenancies, with the restaurant Red Smoke occupying one, while the formerly a Salvation Army Shop op shop is ready for immediate occupation by a variety of retailers.

The former "Bendigo Antique Market" which houses restaurant Red Smoke on High St in Bendigo's CBD has hit the market. Picture: Priority1 Property.

General manager of Priority1 Property Chris Garlick said the property offered an ROI of up to $100,000 per annum, making it one of the “most attractive investment opportunities” on the market right now.

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Mr Garlick said the property offered an opportunity to redevelop the classic Federation-era building into a trendy, modern speak-easy or a restaurant by removing the firewall between the two tenancies and renovating the vacant side.

The former Salvation Army op shop in the "Bendigo Antique Market" building on High St could be redeveloped into a trendy speak-easy or sports bar. Picture: Priority1 Property.

A savvy investor could also use the revenue from the existing restaurant to fund the redevelopment of the vacant shop, Mr Garlick said.

Mr Garlick said the property was surrounded by “plenty” of parking.

He said heritage overlays on the property protected the Federation era facades, but would not interfere with interior redevelopments for a prospective business.