The new owners of the former Dubbo RAAF Base have held their track record aloft as proof they can transform the neglected “eyesore” into a showpiece.
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Dubbo company Andorra Developments this week paid an undisclosed sum to add the prominent city site to their portfolio, which includes the Southlakes Estate.
The twist is that one of the Andorra shareholders is the nephew of former owner John Kosseris - but the company yesterday ruled out any business connection with him.
Andorra director Mark Stanford acknowledged the 38-hectare property had a “long and troubled history” but he saw a bright future in their plan for an integration of business and residential use.
He had confidence in his team’s ability to steer the project through council and heritage processes to become a viable development.
Mr Stanford anticipated they would be “actively developing” the site for “at least the next 10 to 15 years”, a boost to Dubbo’s economy in construction and other flow-on effects.
Yesterday’s announcement came almost 18 months after receivers KordaMentha listed the Mitchell Highway property for sale.
The deal was sealed late on Tuesday but Mr Stanford would not reveal the sale price, citing a confidentiality agreement with the receiver.
The mowers had already begun cleaning up the place yesterday.
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“I think its history hasn’t done it any favours and the years of passive neglect have let the site run down a little bit, but certainly with a little bit of love it can definitely come back,” Mr Stanford said.
The new owners want to get moving on developing the site and Mr Stanford expected that could start by early next year.
To do that Andorra will have to meet with Dubbo City Council and state government agencies.
The entire site, including its five igloo hangars built during World War Two, were placed on the NSW Heritage Register in 2004.
Mr Kosseris, who paid $4.65 million for the Department of Defence property in 2003, failed twice to gain development approval from the council.
His company went into receivership in 2009.
Andorra would rely on its experience gained within the Southlands Group, which owns a number of residential and commercial projects at Dubbo, the largest of which is the 400-residential lot subdivision and parklands at Southlakes Estate.
“We’re excited and I think that being local people and local families with a local track record that we can make it happen,” Mr Stanford said.
“The site has sat vacant for too long and we look forward to transforming the eyesore into a centrepiece with a master-planned integration of business and residential neighbourhoods.”
