The transfer of ownership of the town hall car park development site will pass from Tamworth Regional Council to AJ Richardson's Property Pty Ltd on Wednesday, October 18, it was announced

yesterday.

Tamworth Regional Council will hand over the land to the company and development of the complex, which will house a food court, specialty shops, five cinemas, a live theatre and cafes/restaurants, will begin immediately.

Motorists who use the town hall car park will have to make alternative arrangements as of Monday, October 16. The first step will be to relocate the drainage system that runs directly through the site for businesses facing Marius St.

The construction of the now three-level car park (a two-level car park was first proposed) and the actual complex will follow.

Andrew Richardson from the project developers AJ Richardson's Property Pty Ltd, who was in Tamworth on Friday, said once completed the complex would be worth about $35 million.

Born and bred in Tamworth, Mr Richardson has a keen interest in developing Tamworth's CBD, having previously developed the original K-Mart Plaza (now City Plaza). "It's taken a lot longer than expected. We were hoping to start this construction last year but various delays held us up," Mr Richardson said.

"But we now have a bigger and better plan as a consequence of those delays."

Mr Richardson said he'd been working for three years to develop the site.

"I've been watching this space for about 20 years, trying to develop the site," he said. "This is the business centre of town and you see so many regional towns die because of developments on the outskirts of towns, which kills the CBD.

"The complex is going to be great for business. It will bring a lot of business to everybody."

He said the complex's team would be working to strict deadlines to have the facility up and running before the 2008 Tamworth Country Music Festival.

"We are trying to finish it by Christmas next year, but we'll be cutting it very fine," he said.

"If we come across any delays it's going to spill past that following country music week. We have an allowance in the program for wet weather and other delays but the builder assures me it's possible to have it completed by Christmas 2007." He also thanked the council for its support during the entire process.