GISBORNE’S Macedon House, one of Victoria’s oldest surviving hotels, looks set to be restored to its former glory by an interstate buyer.
The buyer paid $1.36 million, beating would-be developers to the keys to the dilapidated building at 1 Kilmore Rd at a mortgagee auction on August 4.
Kennedy & Hunt’s Shannon Garrahan said the new owner had family in the area and aimed to bring the building back to life.
“He is keen to see the property looked after and the building rectified,” she said.
“He hopes to restore the old lady to her former glory.”
Ms Garrahan said the property was on the market for $1.05-$1.15 million and sold well beyond the reserve at the auction contested by five bidders.
SEE RELATED STORY: Dilapidated Gisborne hotel steeped in history has a seven-figure price tag
Ms Garrahan said the pub, also formerly known as the Mt Macedon Hotel, attracted strong interest because of its position on a large 2ha parcel of land at the entrance to the township.
“The auction drew a good crowd,” she said.
“There were people wandering around the building with torches and lit mobile phones as the building has no power.”
A mix of bidders living locally and out of the area competed from the property, including developers.
One would-be buyer was considering retaining the building and developing the site into an aged care facility, Ms Garrahan said.
Believed to have been built in 1847, the building was also a boarding and guesthouse for many years.
It has since been used as a private house, restaurant, reception centre, bowling clubhouse and kindergarten.
SUBURB PROFILE: GISBORNE
Originally published as Interstate buyer plans to restore Gisborne’s Macedon House to its former glory
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