The old Bendigo Plaza Theatre retail precinct on Mitchell St has gone under the hammer

A high profile retail precinct in Bendigo’s CBD that used to house the Plaza Theatre is under the hammer for the first time in 100 years.

A high profile retail precinct in Bendigo’s CBD that used to house the Plaza Theatre is under the hammer for the first time in 100 years. Picture: Colliers.

A high-profile retail precinct in Bendigo’s CBD is under the hammer for the first time in 100 years as investors flock to the regions.

The sale would see 13 businesses leasing brick and mortar stores beholden to a new landlord.

Formerly the Plaza Theatre, the historic building was converted for retail use back in 1979.

The Gaz Man men’s clothing store uses the former foyer to the Plaza Theatre, while gym D-Club247 Fitness uses the space of the old auditorium.

The Plaza Theatre in Bendigo on Mitchell St before it was converted into a retail precinct. Picture: State Library Victoria.

The Plaza Theatre on Mitchell St showed movies from 1934 to 1975 before drawing the curtains after a final screening of “Fists Of Fury” starring Bruce Lee.

Located on 12-24 Mitchell St and fronting Bath Lane and Hargreaves St the high-profile 2,595sq m retail precinct yields a yearly income of about $500,000.

A high profile retail precinct in Bendigo’s CBD is under the hammer for the first time in 100 years. Picture: Colliers.

Colliers managing director of regional Victoria, Travis Hurst, said the prominent location in Bendigo and growth in regional centres meant the property would only appreciate in value and he was confident the property would sell as a “strong yielding asset”.

“The buildings have a wide scope for varied and unique opportunities,” Mr Hurst said.

“There is an opportunity for future growth in rent return and expansion of revenue streams across all buildings.”

Expressions of interest for sale of the historic site close at 4pm June 14.