Councillors agreed to seek expressions of interest for the purchase of the Peel St site, with a number suggesting it couldn’t happen soon enough.

“This land is in a superb position to deliver something really exciting for Tamworth,” Cr Juanita Wilson said.

Peter Thompson, the council’s director for planning and compliance, said an Albury-based company had already expressed an interest in the property.

Mayor Col Murray told his colleagues the Tamworth Cycle Club was still right behind the sale, but that a new velodrome would be urgently needed once the old one ceased operating.

“They don’t believe they can afford to have an extended period without one,” he said.

Tuesday’s decision is another step in council’s strategy for developing a Northern Inland Centre of Excellence in the South Tamworth precinct around Jack Smyth Dr, which already includes the Australian Equine and Livestock Events Centre, Tamworth Regional Entertainment and Conference Centre and Tamworth Sports Dome.

The sale of the current velodrome site is crucial to the funding strategy for the new centre of excellence, along with money from the state and federal governments.

A new centre would include a velodrome, athletics track, football field and aquatic facilities.

Tamworth Cycle Club secretary Mark Stewart said members were right behind the proposal, with a new velodrome allowing the club to bid for state- and national-level events.

“The current velodrome has reached the end of its viable use; however, it is still being used by junior track racers regularly,” he said.

“The club has asked that council consider negotiating the sale terms in a way which allows its continued use until construction of a new facility is near completion.”

Expressions of interest in the site will be called for in February, but no decision will be made on its sale until after a further report assessing all submissions is considered by councillors.