Investor Paul Gallagher of Coffs Harbour is on the lookout for one or more tenants on whose instructions he would construct a purpose-built store on the site.

He would then lease the building back to the tenants while remaining its owner.

LJ Hooker Dubbo has put up a "for lease" sign on the block near the railway crossing in Cobborah Road.

Its director and licensee-in-charge Colin Knight yesterday revealed that on behalf of Mr Gallagher he was "talking" with a few major companies about taking up the developer's offer.

To date none have signed on the dotted line, but Mr Knight said he was hopeful of a deal being struck in the not-too-distant future because of the uniqueness of the block in the Dubbo streetscape.

The agent said the 30,000-square-metre block at 32 Cobborah Road was zoned "bulky goods, retail" making it attractive to stores selling large items like hardware or white goods.

"There's not a lot of land zoned that way in Dubbo," Mr Knight said.

"This would be the largest available in Dubbo."

Mr Knight said his client was a "big operator" with investments extending throughout NSW and into Victoria.

"He has been active in Dubbo for some time," the agent said referring to "a number of other buildings in the city" belonging to the North Coast-based developer.

Mr Knight said his client had purchased the Cobborah Road site before tearing down the old Telstra building about 12 months ago.

The site, he said, now had the status of a "green field" meaning "it was as if a building had never been there".

"All council requirements have been met," he said.