Cambridge was originally the main airport for Hobart until the 1960's when the current airport was built a short distance away on the Llanherne property. Cambridge was retained as the "secondary" airport for GA aircraft.
In the "rationalisation" that occurred in the 1990's when the Labour government instituted the "Great Airport Selloff", Cambridge was sold to a private operator who is still the current owner (apart from bits that have been sold off already). The requirement was that Cambridge was to remain an airport until 2004, at which time it would no longer need to be retained as an airport. There is no longer any requirement for Cambridge to remain an airport, parts have been subdivided already and an additional substantial part of it is planned and approved for further subdivision. The airport owner, who also owns and operates Par Avion, has stated his intention to keep Cambridge as an airport for the foreseeable future. However, it has been indicated to us that the foreseeable future is, at the moment, a time period of not more than 10 years.
The main Hobart airport was sold (to the state government) and has also since been sold to private interests. The original intention at that time was that GA would move to the main Hobart airport once a cross runway and suitable facilities were built. This has never happened and now that the main Hobart airport is also in private hands Macquarie Bank) it will probably never happen. There were recent plans for this, but costs of providing GA facilities were way beyond any possible return to the operators so the plans were abandoned. Now that further development has occurred in the area, there will never be a fully functional cross strip at Hobart. If it is ever provided, a cross strip will be limited to a short "emergency strip".
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