The hotel and post office are the only remaining remnants of what was a thriving social and retail precinct from the 1900s to the 1920s.
Once refurbishment of the heritage-listed buildings is complete, the property is expected to be sold.
Heritage Minister Albert Jacob said the repairs were being funded under the Heritage Works program, which restores heritage buildings so they can be utilised again.
“The works will restore original form and detail to the buildings, some of which have been lost or obscured over the years,” Mr Jacob said.
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READ NOW“The works undertaken will revitalise the significant heritage elements of both buildings, ensuring they are well conserved into the future.
“The future for disused heritage places lies in finding contemporary uses for them.”
The property has been empty since tenants left in October.