A development application has been submitted, seeking to build a two-storey dwelling and pool, five cottages, eight "primitive" camp sites and additional shedding at 505 Conrod Straight.

It also seeks to change the use of an existing residential dwelling to tourist accommodation.

The development is estimated to cost $1.1 million.

The property, which spans 4.065 hectares on the inside of the circuit, already has two houses and a bunk house that have been used to provide accommodation during major racing events.

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The applicant, Keith Tucker, purchased the property two years ago and initially had no plans to develop it for the purpose of tourism accommodation.

"It wasn't until we read the DCP and LEP for the Mount Panorama precinct, which has totally separate rulings, so we did some investigations," he said.

What drove the Tuckers to develop the site was the number of inquiries they had received from people looking to stay at their property during motor sport events.

"What we're putting on still won't cater for the inquiry, but if we put more on it would be visually polluting, I'd say," Mr Tucker said.

"We know what we can do here and we've kept it to what we would call a bare minimum, and we're really going for that high-end accommodation, too. There's not a lot of that in Bathurst."

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The process began around 18 months ago.

The Tuckers had the soil tested, the site fully surveyed and then met with council to discuss what was and wasn't possible for the Conrod Straight property.

The discussions were positive and gave Mr Tucker the confidence to lodge the DA.

"They couldn't have been of more help. A lot of the councils we have dealt with should come up here and train with these people to see how it's done," he said.

Under the proposal, there will be one fully accessible cottage on the site to cater to people with a disability.

Mr Tucker said it was something he wanted to include in the development due to inquiry he has previously received.

To improve safety, the entrance to the property will be relocated.

Mr Tucker also noted a commitment to environmentally friendly development. There will be a bore to service the toilets in the cottages and solar panels on roofs throughout the site.

Existing dwellings throughout the site already feature solar panels and have all been fitted with LED lights.

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If approved, the development will be done in stages, the entire project anticipated to be complete within two years.

Mr Tucker said it was important for property owners to respond to the demand for accommodation at the Mount, particularly on the inside of the circuit.

"There's basically no accommodation inside the track like what we're doing ... but it's an opportunity that is available there and I don't know that a lot of owners know about that opportunity inside this area," he said.

"If ours gets approved, it'll probably open up Pandora's Box, who knows?"

Additionally, these kinds of developments are expected to encourage people to come back year after year.

"All tourists that come through, whether it's a race car event or not, certainly love the property, love the area, and this sort of property and concept will only bring people back to Bathurst."