The doors will close on December 16 for the last time.

Stall holders, some of whom having been operating in the market every weekend throughout its 12 years of trading, are hoping to see the era end with a pre-Christmas retail bang, rather than a dollar-scrimping whimper.

Although a popular icon with locals and visitors, the Mega Market, which opened in 2000, never reached its trumpeted expectations.

It was built at a cost of $7 million to cater for 500 stalls, 50 factory discount outlets selling seconds, a huge fresh vegetable, meat and seafood area, plus a 300-seat food hall.

It was to be the new retail landmark for the whole Lower Hunter.

Its Queensland-based backers also claimed it to be Australia's largest purpose-built marketplace, attracting 9500 visitors a day.

At its peak, though, the markets had just 110 stalls, and never more than half a dozen factory outlets.

Market management placed the blame fairly and squarely on an unforeseen global ambush by internet competitors selling online.

But rumours remain about what the future now holds for the 4(2) industrial general-zoned property owned by the Roche Group, with its 12,000-square-metre purpose-built monster X-type structure, and huge car parks, for 1300 vehicles.

Morisset developer Francois Shamley specialises in the town's Gateway Industrial Estate. He said the future of the site posed an interesting question.

"We have heard unconfirmed reports that the building has already been sold but not who has bought it."

He said there were rumours it could be a new Woolworths Masters Hardware store or a distribution depot.