Future development of the former Warragul saleyards site is expected to become clearer in the next couple of months.
The 17,000 square metre site with a 240-metre frontage to Alfred St was bought last December by Melbourne based property developer the McMullin Group.
John McMullin said the company was looking at several options as to how the site would be developed and had held discussions with Baw Baw Shire three weeks ago.
He said the shire was very supportive and offered ideas that it would like to see with the construction, especially the use of natural materials including local timber.
Office buildings on the site were demolished early last year and extensive shedding over cattle yards that were built by Victorian Livestock Exchange, who leased the saleyards property, have been removed in recent months clearing the way for the new development.
Mr McMullin said the company expected to have a clear picture of its plans for the site in about a month.
When McMullin Group's purchase was announced last December Mr McMullin said the site lent itself for commercial development but, at that stage, the company had "no specific plans".
He said company representatives had visited the area extending from Drouin to Traralgon a number of times in recent years and was particularly impressed by the amount of traffic that travelled through Warragul.
The purchase by McMullins followed the lapsing of a previous sale contract with an extended settlement period entered into in mid-2021.