1 Bannerman Street, Bendigo, VIC 3550 | House for sale | OnTheHouse
 
FOR SALE
$500,000 - $550,000

1 Bannerman Street
Bendigo VIC 3550

Bedrooms: 2
Bathrooms: 1
Car spaces: 2
Land area: 1011m2
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Corner Block Opportunity with Future Scope

Set on a generous corner allotment of approximately 1,011sqm, 1 Bannerman Street presents an exciting opportunity for buyers looking beyond the surface and considering the long-term potential of a well-positioned Bendigo property. With its substantial land size, side access, existing two-bedroom home and prominent corner setting, the property will appeal to renovators, investors, developers and land bankers seeking a project with flexibility and future upside.
The existing 1940s weatherboard home is largely original, offering a clear opportunity for renovation and improvement. For investors, there is scope to update the home and maximise its rental return, while owner-occupiers may see the potential to restore character, improve functionality and create a more comfortable home over time. The floorplan currently includes two bedrooms, one main living area, a spacious kitchen, central bathroom, laundry, mudroom and an additional bathroom space, giving buyers a practical base to work from.
Inside, the home retains the proportions and simple character of its era, with high ceilings, decorative cornices, picture rails and generous room sizes offering a foundation for future enhancement. The living room includes a fireplace and split system air conditioning, while the kitchen provides a gas and electric upright stove and enough space to rework or modernise as part of a broader renovation. Both bedrooms are well sized and include built-in storage, adding further practicality for a future rental or updated residence.
Outdoors, the value of the property becomes especially clear. The corner allotment provides excellent exposure and access, while the generous rear yard, existing shedding and wide outdoor areas open up a range of possible uses. Buyers may wish to retain and renovate the current home, explore subdivision potential, or consider a broader redevelopment outcome, all subject to council approval.
Adding further interest, the adjoining property at 3 Bannerman Street is also available for sale, creating a rare opportunity for buyers to consider the two properties individually or together. For developers, investors or buyers seeking a larger combined landholding, this neighbouring availability significantly enhances the overall potential of the site and provides a chance to secure a more substantial position in an established Bendigo location.
With sewerage connected, side access, a sizeable corner block and a home ready for its next chapter, 1 Bannerman Street is not a polished finished product, but rather a property with genuine scope. Whether renovated for improved rental return, held as a long-term investment or explored for subdivision or development potential, this is a chance to secure land, location and opportunity in one package.
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Property Details for 1 Bannerman St, Bendigo

1 Bannerman St, Bendigo is a 2 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 1011m2. The place is currently for sale with PRD Real Estate Bendigo.

Building Type
House
Land Size
1011m2
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About Bendigo 3550

The size of Bendigo is approximately 5.5 square kilometres. There are 8 parks, covering nearly 8.8% of the total area. The population of Bendigo in 2016 was 5512 people. By 2021 the population was 5652 showing a population growth of 2.5% in the area during that time. The predominant age group in Bendigo is 20-29 years. Households in Bendigo are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Bendigo work in a professional occupation.In 2021, 53.30% of the homes in Bendigo were owner-occupied compared with 53.70% in 2016.

Bendigo has 5,297 properties. Over the last 5 years, Houses in Bendigo have seen a 19.27% increase in median value, while Units have seen a 32.23% increase. As at 31 July 2026:

  • The median value for Houses in Bendigo is $664,475 while the median value for Units is $476,484.
  • Houses have a median rent of $520 while Units have a median rent of $480.
There are currently 29 properties listed for sale, and 13 properties listed for rent in Bendigo on OnTheHouse. According to Cotality's data, 214 properties were sold in the past 12 months in Bendigo.

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Alex Smith-Ralph
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