Update - 22 December 2022
Local entrepreneurs and businesspeople Eddy and Malinka Comelli and David and Yuge Bromley are the successful bidders in the purchase of The Rex building in Vincent Street, Daylesford.
The building sold above the reserve for $3.75 million following a public expression of interest process. There was substantial interest in the purchase, with six formal submissions received.
Council’s principal objectives of the sale process were to identify a buyer with the financial capacity to purchase the land and develop the property; identify a proposal which provides an economic and social benefit for the local community; respond to the Council Plan; and achieve an optimal financial return to Council.
“With both of our families local to the Daylesford community, the honour of purchasing and developing this iconic building into a thriving destination spot for both locals and visitors alike was our key driver,” said Yuge Bromley on behalf of the group.
“We are truly honoured to have the privilege of purchasing this building. We will take time to regroup and plan but our intention is to tap into our combined passions, connections and resources to transform the building into an evolving dining, retail and entertainment destination with a diversity of culture, food, art, music and entertainment,” said Ms Bromley.
“We have some initial plans regarding the arcade and atrium, making it a place where visitors local and from afar can frequent time and time again."
Councillors accepted the officer’s recommendation and voted unanimously in favour of selling The Rex to the Comelli and Bromley families.
The EOI and sale process was overseen by an independent probity advisor to ensure the transparency and integrity of the sale process. Read Council's media release.
Council decided not to proceed with the Hepburn Hub at The Rex project at the Council Meeting in November 2021. At the meeting Council declared its intention to sell the building. Following that decision, Council undertook a community engagement process, inviting feedback in relation to the intention to sell The Rex. This was in line with requirements under the Local Government Act 2020.
The community was invited to complete a short survey or submit a submission on behalf of a community group in April and May 2022. Thank you to everyone who shared their views.
You can read Council's media release from July 2022 on the decision on our website.