The heritage protected former Kyneton District Hospital has sold to a developer for $4.95 million.
The derelict property on a 3.6 hectare riverside block at 67 Simpson Street carried price hopes of between $5.75 million and $6.25 million when it hit the market in April.
A high-profile campaign to save the bluestone building further disrepair and vandalism – and development – was supported by former SBS News presenter Lee Lin Chin in this 2016 YouTube video.
Built in 1856 and one of the state’s earliest country clinics, the facility closed in 2005 when the Kyneton District Health Service opened.
The government sold 67 Simpson Street, which has been on-sold a couple of times since.
The vendor, Hong Kong based Winport Developments, acquired it in 2011 for $1.6 million.
In 2016, Winport proposed a 67-lot subdivision of the grounds, on the banks of the Campaspe River, which would have seen the enormous former hospital converted into four apartments and other bluestone buildings converted into townhouses.
That redevelopment application lapsed in January.
Last year, Heritage Victoria issued Winport Developments a warning that if it didn’t undertake minor repairs of the property, it risked a $1.5 million fine.
The agents said that the hospital could become the area’s most beautiful home, gallery or event destination.
The new owner is speculated to be considering restoring the hospital as a residential building and redeveloping the 3.1 hectares of the site which is not protected by the Heritage Victoria listing.