However, it's uncertain at this stage who the next tenants of the high-profile site will be.

The old indoor cricket centre on the Princes Highway was burnt down about 20 years ago.

Read more: Derelict Fairy Meadow centre 'must go'

It has since been graffitied and rubbished.

The site has long been deemed an eyesore by nearby residents, who cited the asbestos in the roof, wires hanging down, dangerous gutters, broken glass and a cut fence.

However, residents have noticed activity on the site in recent weeks, with fencing established and excavators appearing on-site.

Some works are already taking place, with the front structure being taken down.

Quality Green Group is the owner/manager of the property.

They are proposing the "demolition of existing building and construction and use of buildings for the purposes of a data processing centre - car parking for 208 cars - partial demolition of existing structure".

A construction certificate for the demolition of existing building and construction and use of buildings of a data processing centre was lodged with Wollongong City Council through a private certifier this week.

This means no further action is required by council, and the determination will not be made by council.

"The site is a significant development opportunity and we are actively searching nationwide for potential tenants," Daniel Grozdanov from Quality Green Group told the Mercury.

"The tenant or tenants that may be found will determine the future plans of the site."

Residents of the area have previously suggested transforming the site into apartments, an IKEA store, cinema, an indoor skate park or an aquarium.

Last year, Scott McRae, a long-time Fairy Meadow resident told the Mercury he wanted the owner to knock down the building or put up a taller fence so residents didn't have to see it.

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