A Dubbo couple has put a $1.5 million price tag on a central business district property where they had hoped to offer residents of the city and region a "high life by the river".
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The price covers development application (DA) approved plans for five-storey 'Premiere Lane', featuring retail and office space, 20 boutique apartments and undercover parking.
Kim and Ros Williams specifically bought 111 Macquarie Street about five years ago for the proposed development.
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They had a "pre-commitment" on each apartment from people in and around the city including farmers.
But "changes to lending criteria" after the Banking Royal Commission scuttled the couple's dream and forced them to go "cap in hand" to people who graciously agreed to the rescinding of contracts.
"The people I was selling to were more disappointed for Ros and I than themselves," Mr Williams said.
Six months ago the couple put the property into the hands of Andrew McDonald Commercial Dubbo along with the DA-approved plans which cost "half-a-million dollars".
Its sales and leasing consultant Daniel Wilson is quick to point out that use of the plans is optional.
"An opportunity exists for a developer to take advantage of the plans and approvals, make changes as they see fit or start with a fresh or new idea and see their vision come to fruition on the outstanding CBD and Macquarie riverside site," he said.
Mr Wilson reports of "very strong interest" in the property from Dubbo and metropolitan developers including "consortiums" of local tradespeople.
He says the property's B3 commercial core zoning allows for a "full range" of development in areas such as food and beverage, medical, retail and residential.
"We often get inquiries through our office for residential properties within the CBD," Mr Wilson said.
"Imagine living in town within walking access to the CBD eateries and entertainment options, health and medical services, professional services."
Mr Wilson notes Dubbo Regional Council's planning for the Macquarie River Foreshore Event Precinct, set to include a state-of-the-art outdoor events arena.
"We think that would be an exiting aspect for anyone looking to live in the CBD," he said.
Mr Williams knows "people are prepared to pay" for luxury CBD apartments and thinks they could be complemented by the likes of a boutique hotel.
"It may still happen," he said.
