SETTLEMENT of the much-anticipated Tamworth Workmen's Club sale to Melbourne-based company Regent Centre Pty Ltd is only weeks away.
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The purchasing company's director, which already owns Tamworth's Regent Cinema Four, Andrew Ward yesterday told The Leader than roughly speaking the deal would be signed and sealed between January 20 to 25.
"My business partner Graham Irish has made a final inspection of the site and we are in discussions with possible tenants," Mr Ward said.
The company has indicated its future plans if and when the sale goes through however, continues to remain tight-lipped about the sale price of the 8500sq m building.
Current owners of the former Workmen's Club, Sydney receivership company Knight Frank are believed to be asking more than $1million for the premises, which failed as the Tamworth Conference and Entertainment Centre.
In December, Mr Ward announced plans to construct a multi-million dollar six-cinema complex in the building, while also retaining the current Tamworth movie theatres, in Brisbane St, as an art house facility that would screen European movies.
"We haven't crystallised anything yet because without confirmation of the sale nothing is assured of being certain," Mr Ward said.
"Regent Centre is confident and committed to transforming the Workies and that end of Bridge St into Tamworth's entertainment precinct."
The Regent Centre owners are also believed to be meeting with a Melbourne family restaurant chain, which Mr Ward has a business interest in.
"Given the size and nature of the building and its adequate car parking space we are keen to pursue a residential or tenancy side to the complex, although there are issues such as natural lighting and a stack of others that need to be considered," he said.
The company has made assurances that the New Image Gymnasium and the heated pool would be retained.
Transformation of the former Tamworth club is one of a number of similar cinema complex projects that Regent Centre's owners have on the drawing board.
Mr Ward said the company would also be refurbishing and establishing cinema complexes with restaurants and some with apartment style accommodation in Orange, Bathurst and around Victoria's Mornington Peninsula area.