The transformation of Koroit's main street continues to rapidly evolve with major changes at a prominent Commercial Road site.
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Work is well advanced in dismantling Victoria House, with the demolition of the building expected to be completed by Christmas.
The site owner, Paul Richard, said while some may have preferred the building to stay, he believed it's demise was the best course of action for the town.
"This building is past its used by date, I could throw a quarter of a million dollars into it and it wouldn't touch it," Mr Richard said.
"Accommodation expectations nowadays are pretty high, everyone wants a room with an en-suite and modern facilities.
"The old boarding house style accommodation, with share bathrooms, just don't cut it anymore, and that is what this building had.
"Clearing the block opens up so many possibilities for the town, the site is 2400 square metres and sits on the main street of a town that is expanding.
"I will clear the block, put fences up and present it nice and tidy.
"It really is a blank canvas, it could be a location for something very special for the town, it's a great opportunity for someone to grab."
Part of the process of clearing the site is the removal of three units at the back of the main building.
These units were moved to the location in 2003 and came from the Sydney Olympics Athletes Village. Getting the units was instigated by then Victoria House owner Colin White.
Mr Richard said two of the units have been sold, with just one remaining.
"The one that is left is the best of the three of them," Mr Richard said.
"They are four-bedroom units with en-suites for each room and they are in really nice condition."
Mr Richard purchased Victoria House two-and-a-half years ago and initially offered bordering house-type accommodation.
He was not sold on this process going forward, deciding demolition was a more appealing option for himself and the long-term future of the site.
Victoria House began its life as the Rising Sun Hotel in 1872.
In 1894, it underwent a name change to become the Victoria Hotel.
The hotel closed down in early 1970s and later became Victoria House, which provided accommodation for men in need.
