Bendigo Commercial Buyers Target Yield as Median Prices Fall Below Peak

The national headquarters of Bendigo Bank in Bath Lane has been listed for public sale for the first time since 2008, with expressions of interest closing July 29, 2026, and agent expectations of around a 9% yield. This listing arrives alongside other commercial assets entering the market in central and eastern Bendigo.

Active Listings and Project Completions

Prime Urban Group has completed Stage One of its $55 million Prime Business Park Bendigo at 8-16 Rohs Road in East Bendigo. The development adds over 10,000 square metres of flexible workspace and is nearing full occupancy amid ultra-low commercial vacancies. Separately, the retail property at 297-305 Hargreaves Street, leased to Officeworks, is offered via expressions of interest with 2,248 square metres of land and 3,233 square metres of gross lettable area across three levels.

Price Trends and Broader Economy

The median commercial property sales price in Bendigo was $1,276 per square metre in 2024, an 8.9% decline from the 2023 peak of $1,400 per square metre, though the market remains active with strong interest in quality assets. Bendigo supports Victoria’s third-largest urban economy with over $22 billion in economic output, more than 55,000 jobs and a target for 13,000 additional roles by 2030. Population is forecast to grow 33% by 2046.

What Buyers Should Review Now

Prospective purchasers examining listed assets such as the Bath Lane headquarters or the Hargreaves Street property should compare yields against the 2024 median price level and assess tenancy profiles. Those considering new supply at sites like 8-16 Rohs Road can note the reported near-full occupancy and low vacancy environment. Checking closing dates for expressions of interest and reviewing comparable sales data from 2023 and 2024 provides a factual basis for offers.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.