A big city style warehouse conversion in the CBD could pave the way for similar developments in Orange, says local real estate agent Ash Brown of One Agency.
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Construction commenced last month on Mc07 development in McNamara Street, the first of its kind for the city.
An existing warehouse, which sits on a 594 square metre site, is being converted into a high-end retail/commercial space, with two luxury four-bedroom apartments on the upper level.
Award-winning local architecture firm, Source Architects, were responsible for the design.
It will be at least 12 months until the development is complete, however Mr Brown said there had been "a lot of interest - especially from Sydney" since the apartments went on the market just after Christmas.
Apartment Two is already under offer.
"I guess Sydney people - they're used to warehouse conversions and it's very normal for them," Mr Brown said, "but this is very different for Orange."
Much of the interest had come from baby boomers, as the apartments provided all the comforts without the maintenance, he said.
He sees plenty of scope for similar projects: "I think it's time for Orange to go down this path, now that we've seen the success with the response from this.
"I believe there'll be a lot of other landlords of warehouses in the CBD who will be looking at whether they want to convert them to apartment living as well.
"Certainly there's a lot of warehouses in the CBD that could be converted.
"And because of lack of space or vacant land, this could be a way of alleviating that problem."
Mr Brown said he was unable to disclose a price for Apartment Two as it was under offer, however Apartment One had a price guide of $2.1 to $2.3 million.
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