The Port Fairy Youth Hostel is on the market

The Port Fairy Youth Hostel has been put on the market and sales agent Jay Everall, from Robertson Port Fairy, said the property was unique with a long and historic significance.

"There's nothing you could really compare it to in town," he said.

According to the statement of information the indicative selling price is between $2.3 million and $2.5 million.

Mr Everall said the building sat on an enormous allotment of about 1800 square metres and was close to the centre of Port Fairy.

"There are a couple of parts of the building which are of historical significance to the town such as the stables out the back," he said.

"It probably lends itself to some different uses.

"It could certainly be an original homestead or private dwelling if someone wished to transform it into that.

"There's a lot of land there, so that would lend itself to some different uses from an income generating perspective.

"Obviously at the moment it's used as a youth hostel and there's a chance someone would continue some sort of accommodation arrangement there whether it would be a youth hostel or something a little different.

"It's obviously well set up for that in its current format.

"Some of the more recent buildings which are the cornerstone for the accommodation for the youth hostel could be updated or removed completely given they're not part of the historical allotment.

"It will be interesting.

"It really is left up to people's' imagination on how they might want to use it."

The building dates back to 1850 and was built by William Rutledge.

The hostel is able to accommodate about 60 people and is made up of 21 rooms which include 17 bedrooms, eight bathrooms, two kitchens, a cellar, numerous living areas and an open fire place.

The property also includes the original coach house made of local stone that can be used as a separate accommodation to the main house.

The property is partially framed by old stone walls and the garden includes multiple outdoor rooms.

Expressions of interest close on August 31 at 4pm.

Mr Everall said expressions of interest allowed people in the market to express their interest and what they thought the property was worth.

"Then obviously we'll see how that plays out over the next month and go from there," he said.

"We're very keen to see how things progress.

"Given its uniqueness we'll look forward to inquiries and working towards a good result for the vendors."

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