A historic retail building in the heart of Dubbo is up for sale, and according to the selling agent, Stonebridge Property Group in Sydney, it presents “a prime opportunity for investors and developers”.

The 1.11-hectare freehold site is home to the region’s only Myer department store and has been a central part of retailing in Dubbo for decades.

It was once the head office of Western Stores, a chain of department stores that operated in the Western and Central Western parts of NSW.

It later became the region’s Myer store, then part of the Grace Bros chain, before reverting to the Myer name in about 2004.

The site has been the subject of speculation in more recent years, particularly after Myer closed stores in other major centres including Orange and Tamworth, however the selling agent for the Dubbo store has emphasised that it is “secured by a brand-new lease to ASX-listed Myer”.

Located along Macquarie Street, Dubbo’s main retail strip, the property boasts over 60 metres of prime frontage.

The agent’s listing on www.realcommercial.com.au says the site’s “flexible E2 Commercial Centre zoning underpins future development upside (STCA)”.

It also offers 60-metre frontage to Macquarie Steet, with “multiple entrances providing the ability to reposition the retail offering”.

Expressions of Interest for the building close on November 14 at 4pm (AEST).