Masters Senior Development Manager, Tony Pratt, met with Tamworth Region Mayor Col Murray and General Manager Paul Bennett this morning to advise them of the decision.

“Mr Pratt informed us the project in Tamworth has been deferred indefinitely and Masters has allowed the options to purchase the sites in Hinton Street and Scotts Road to lapse,” Cr Murray said.

“Mr Pratt explained the decision was not a reflection on Tamworth but rather a new company focus put in place by the new CEO who wants the company to consolidate and improve the performance of their existing stores and increase its presence in metropolitan areas before expanding further in regional Australia.

“Other regional centres, including Dubbo, have also been told that their proposed Masters developments will not proceed.”

Masters Home Improvement announced a proposal for a $25 million development in Tamworth on April 8, 2013.

In May last year, the way was cleared for Masters to lodge a development application for the project after Tamworth councillors supported rezoning of the site at 5-7 Hilton Street and 7-33 Scott Road.