MAAS Group Holdings has acquired the RAAF Stores Depot site, in the latest in a long saga involving the redevelopment of the land.
An announcement to the ASX dated August 30 states 'MAAS Group Holdings Limited is pleased to advise of the acquisition of the largest mixed-use development site in the strongly growing regional city of Dubbo.
'The site is centrally located and comprises a total land area of approximately 38 hectares, including 22 hectares of residential zoned land (approximately 280 lots), 4.8 hectares of industrial zoned land, and four hectares of tourism zoned land.
'MGA has already undertaken civil construction services on the site for the previous owners and the full development of the site will pull through significant demand for MAAS Group's Construction Materials, Civil Construction and Hire divisions.'
Managing Director and CEO Wes Maas said the company was "excited to be able to secure the largest mixed use development site in Dubbo."
"As well as providing an increase to our residential development pipeline, taking the portfolio to over 5,700 lots, there are redevelopment opportunities for the existing major industrial buildings on site which include four iconic 'igloo' hangers together with tourism zoned land with existing approvals for a service station and fast food restaurant."
The announcement also states, that 'Strategic refinement of the masterplan will be implemented to enhance the future sustainability of the site, with staged construction and delivery over the coming years'.
MAAS has been contacted for comment.
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