THE Allied Mills site on Marius Street, which is set to be closed down by the end of the year, already has a new owner.
While it’s been suggested the CBD-central block could attract the interest of residential developers, it looks likely to continue production, after being purchased by Dick Honan, the chairman of agribusiness Manildra Group.
Public records show the 2.43-hectare site sold for $6 million in mid-May last year.
The Leader has contacted Manildra Group about the purchase and future use of the mill, however the company is yet to respond.
Earlier this month, the mill’s former owner, Allied Pinnacle, announced it was shutting up shop as the operation had become “financially unviable”.
Employees have been offered roles at the company’s flour mill in West Tamworth; however, five jobs are expected to go when the doors close.
Less than 18 months ago, 17 jobs were shed when the plant ceased the production of starch and gluten, which left the mill producing only dextrin and caramel colour.
“However, these operations are also non-core operations and proving financially unviable,” an Allied Pinnacle spokesperson said.
“Full entitlements will be paid to any employee impacted by this change. Staff will receive career transition support, outplacement services and a careers fair is being arranged.
The final date of operation is “yet to be determined”, but the company confirmed it would be within the calendar year.
In 2016, Allied Pinnacle invested $21 million to upgrade the site to “deliver significant production performance improvements”.
Tamworth mayor Col Murray and the city’s business chamber president Jye Segboer both suggested the site would be suitable for residential apartments, to compliment the nearby CBD.