The Beechworth Gaol has been purchased by a group of investors; the majority are local community members with some city-based investors.

Spokesperson for the group, Matt Pfahlert said the group is committed to transforming this highly valued heritage site into a thriving community space for the social and economic benefit of the region.

The Beechworth Gaol was sold at auction eight months ago to a Sydney-based developer, but the sale later fell through.

“Beechworth people and those in the region interested in the history of the site have been waiting for years for the site’s future to be determined so we wanted to let them know that it is now in the hands of this group and that master planning for the site begins immediately,” Mr Pfahlert said.

“The group is excited about what the gaol’s future holds and we look forward to the community’s participation in the project later this year.

“However, there is a confidentiality agreement in place as part of the Contract of Sale which means I cannot disclose any further information until mid October.”