Hobart's general aviation airport, Cambridge, is on the market after the Wells family listed it for sale this month.
The family bought the airport outright from the Federal Government in 1992 rather than lease it on similar terms to other GA capital airports.
The freehold title is now up for sale with a lease-back to the operating company Par Avion Aviation.
Cambridge covers a 45-hectare site with various zoning overlays including light industrial, utility and open space.
According to sources, the airport will be sold with no guarantee of continued operation as an airport once the lease to Par Avion expires.
Listing agent Leslie Simpson of Raine and Horne said the airport site contained a lot of potential for developers.
"We already have aviation businesses interested in building on the Wells family's legacy, as well as developers considering the re-zoning potential of the utilities portion of the site that is approximately 31.5 hectares," he said.
"In addition, there is already light industrial land parcels (around 3.4 hectares) with significant underlying value.
“It’s a big piece of potential industrial land within arguably Tasmania’s highest growth industrial-commercial precinct featuring 196 metres of frontage to busy Kennedy Drive.”
Cambridge Airport was built on land bought by the Federal Government in 1934, and served as Hobart's main airport the nearby Hobart International opened in 1956.
In 1992, the Federal Airports Corporation sold the airport site to the Wells family, which has been operating it ever since. The Wells family also owns Par Avion Aviation and Airlines of Tasmania.
Cambridge is also home to the Aero Club of Southern Tasmania.
Raine and Horne are taking expressions of interest in the airport until 4.00 pm on 9 July 2024.