THE compound known for years as the Ovens Benevolent Asylum, in Beechworth, has hit the market as a development site.

The State Government can expect to make up to about $2 million from the sale of the 6.5 hectare property which includes five heritage protected historic buildings, and a subdivided vacant tract of land.

Construction of the first asylum building started in 1862 with buildings added in 1867, according to the Heritage Council of Victoria.

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