By December, the defunct Dizzyland amusement park site at Salt Ash will be turned into WaterWorld Central.

WaterWorld Central is a mobile water park featuring large inflatable pools and slides that can be packed on to trucks and relocated at need.

"At this stage we will be open to the public for a few months in summer with further plans to develop the property and make it permanent," co-owner Britt Osborne said.

The concept of WaterWorld Central was developed by Fullerton Cove's Annika Osborne who, along with parents Britt and Les Osborne, own and operate the mobile water park.

The Osbornes have entered into a long-term, private agreement with the owners of the land, Kent and Leanne Sansom from Oakvale Farm and Fauna World.

"This is our first year, but we've signed a long-term agreement," Mrs Osborne said.

"Hopefully we'll be there forever."

For the last five years all three Osbornes have travelled around Australia to towns that invited WaterWorld Central to set up for short periods of time.

The water park has visited Dubbo, Mackay, Bateau Bay and Fox Studios in Sydney.

The business was invited to set up at Nobbys Beach in Newcastle, but Mrs Osborne said they never did so after Newcastle City Council wanted to charge them more than $150,000 in fees.

Mrs Osborne said the opportunity to set up WaterWorld Central in Oakvale Drive, following Dizzyland's closure in May, was too good to pass up.

"It is a great location and it is back on our home turf," she said.

"It is pretty hard to find a good location that is suitable for WaterWorld.

"But Salt Ash is tourism-based and family-based, which suits us.

"When tourists visit Port Stephens they will have a new major attraction to enjoy, and families will get just as much out of it."

WaterWorld Central is expected to open in Salt Ash at the end of November or beginning of December.