PLANS have re-emerged to turn one of the city’s CBD eyesores into a five-star hotel and restaurant.
The City of Greater Bendigo has sold the former Advertiser building in Pall Mall to local developers.
Mayor Alec Sandner said the process began in May.
“The new owners intend to transform the entire site into a five-star boutique hotel complete with a five-star restaurant, 60 hotel suites, function centre, gym and other amenities,” he said.
“This will be completed in two stages with development of the existing Pall Mall building being stage one.
“The second stage will see the Hargreaves Street site having 40 hotel suites and will be a new structure.”
It is the second time plans for a hotel have emerged on the site.
In 2008 council announced plans from Omni Hotels to build a similar development on the site.
However the global financial crisis saw the plan fall over.
Cr Sandner would not reveal how much the site sold for, or how much council paid for it originally.
“The developers want to provide Bendigo with a premium quality hotel with a level of luxury previously not available in regional Victoria,” he said.
“During the period that the Bendigo Library is occupying the building, the developers will use this time to create the design plans and have approvals completed.
“This exciting new project will bring work for local contractors as well as up to 30 new jobs once the project is finished, creating an economic benefit for the city and bring more people to the region.
“The council is confident that with existing planning controls there is sufficient guidance for the developers’ plans to align with the Central Business District Plan and a good quality result for the entire city will be achieved.”
Local real estate agents DCK Real Estate sold the site.
Cr Sandner said the plans would not impact on the current use of the site, which was a temporary home for the Bendigo Library.
“Once all of these are in place, redevelopment can happen soon after the library moves back to its previous location in late 2013,” he said.“Stage one is intended to be completed and be operating by May, 2014.”