A significant building in Golden Square is reportedly up for sale.
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The Bendigo Advertiser can confirm 2-20 Chum Street, owned by Southern Cross Austereo, is on the market.
The total site for sale is more than 50,000 metres squared in size, and includes the main building which spans just under 3000 square metres.
The building was constructed in the 1960s and updated in the 1970s, and includes multi-level offices and a television and radio studio.
The entire property also features large open grass areas and 75 parking spaces.
It is currently occupied by Southern Cross Austereo (SCA), which operates the Hit Bendigo and Triple M Bendigo radio stations, and Legacy Bendigo, which leases part of the ground floor of the building.
The site is in proximity to St John of God Hospital and adjacent to Fortuna Villa, and featured in the City of Greater Bendigo's Golden Square Structure Plan, which highlighted opportunities for its redevelopment.
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"Although there is currently no proposal for the redevelopment of the site there are significant opportunities including mixed residential, short term accommodation and aged care which could integrate with and service the medical related facilities currently occurring in the area," the plan said.
The plan stated the main constraint of developing the site is contamination, most likely due to mining activity that occurred in the area. Remediation would be required before any substantial changes to use occur.
The use of the land is zoned as Special Use Schedule Three (Television and Radio) meaning future development "will likely require changes to the Greater Bendigo Planning Scheme."
The Advertiser understands Legacy's lease expires in 2024 and SCA could lease back their tenancy in a new negotiation.
The sale is being conducted by Colliers International, which was unable to provide comment at time of writing.
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Jonathon Magrath
Jonathon has been living and working in Bendigo since March 2021, currently working as a general reporter. Contact him on jonathon.magrath@austcommunitymedia.com.au.
Jonathon has been living and working in Bendigo since March 2021, currently working as a general reporter. Contact him on jonathon.magrath@austcommunitymedia.com.au.
