The new owners of the sprawling building told the Mercury yesterday they are anxious to begin work as soon as the necessary approvals are completed by Lithgow Council.

The once busy complex was sold several years ago after TAFE reduced the number of courses available in Lithgow — ditching lifestyle courses completely — and concentrating operations on the more modern Hill Street college.

It was purchased by a Sydney firm who maintained a low profile in the community while utilising part of the property for the manufacture of laundry products.

But it was the lack of maintenance on the building that became an embarrassment and drew repeated criticism from council and the community.

Last year a financial institution took possession of the building and evicted the former owners.

It was subsequently sold through LJ Hooker, resulting in wide interest in its future.

That future became more defined this week when the company principals had another lengthy meeting with council then publicly revealed their proposals for the first time in an interview with the Mercury.

Involved in the negotiations were Amir Sadrossadat and Davoud Zamani, co directors of LSS Corporation, a project management and engineering firm with offices in Newcastle and Sydney.

With them were design and drafting consultant Brett Moulds, from Bathurst, and local advisory consultant Ian Rufus.

The proposal is for a major fit out to create a mixture of residential apartments and commercial opportunities.

Planning is under way for 14 loft style apartments on the top floor and four commercial spaces on the ground floor.

Environmental considerations are not being neglected and extensive landscaping is planned, including restoration of the courtyard and garden that had been a feature of the site during the TAFE era.

Mr Moulds said the company expected to be able to quickly ‘tick all the boxes’ and to begin work very quickly.

The company is optimistic the project will be completed in less than 12 months.