The iconic drive-in movies site at Dubbo has sold, paving the way for a new chapter for the landmark property.
Contracts for the 9.78 hectare 12R Narromine Road "became unconditional" last week after being "entered into some months ago".
The property zoned light industrial had been on the market for about 15 years, reports Andrew McDonald of Andrew McDonald Commercial Dubbo, joint selling agent with Mark Searle of Dubbo Real Estate Agency.
The property sold "at close to the asking price, which had been advertised for some time at $2,900,000 plus GST", Mr McDonald said.
The buyers have not been disclosed, but Mr McDonald said he would describe them as "experienced local developers and investors who've done work not only in Dubbo, but outside of Dubbo".
So I think that ensures we're going to have some wise heads and some good eventual product to look forward to on the site.Joint selling agent Andrew McDonald
"So I think that ensures we're going to have some wise heads and some good eventual product to look forward to on the site," he said.
The agent said he wasn't aware of exact eventual plans, but said hopefully that would come in due course.
"Zoning is light industrial, however, so that gives some indication of the type of development that's eventually going to occur there," he said.
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Settlement of the sale is due to occur at the end of February.
The site was home to the Westview Drive-In cinema from 1970, a popular hang-out until closing in the 1980s.
Owned by the "well-known Comerford family here in Dubbo", the site was listed for sale about 15 years ago, Mr McDonald said.
"Once upon a time they had intentions to possibly relocate their business there, but that never eventuated and so it's been on the market for a while," he said.
After three decades, movies returned from 2017, with community member Jason Yelverton leading the revival as Dubbo Westview Drive-In operator.
A post to the Dubbo Westview Drive-In's Facebook page acknowledged the site's sale and advised the last screening would be on the first weekend in April.
Obviously we recognise it's an iconic site and it's well known throughout western NSW as the drive-in movie theatre.Andrew McDonald
"Obviously we recognise it's an iconic site and it's well known throughout western NSW as the drive-in movie theatre," Mr McDonald said.
"It's obviously had a new lease of life of late, which has been great to see its former drive-in theatre use being reactivated, however... from the owners and any developers' point of view, it's not going to reach its full potential until it's fully developed to its highest and best use, sadly.
"The owner's been very helpful to the operator that's been running it for the past couple of years, and they've certainly done an excellent job with what they've provided for the Dubbo and surrounding public over the past several years, but it was never going to reach its full potential until fully developed, and that's why it's gone down the path it's now heading."