Tamworth's old Workies Club will be home to a new 2000 square metre gym and still have enough floor space to potentially attract a state government department to the city.
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That's according to new owner Angelo Skagias, of Skagias investments, who said the building's redevelopment to accommodate new "A-grade commercial" real estate will make it part of the city's new CBD.
In January the company revealed its multi-million dollar plans for the old Workman's Club, on Bridge Street, in West Tamworth.
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The redevelopment of the structure has been underway ever since, but so far works have been contained to the interior.
Refurbishment of the building's facade and an upgrade of its carpark are expected to begin in October, Mr Skagias said.
"Obviously you're governed by how far the CBD is," he said.
"If you're looking at doubling the population in Tamworth ... the CBD has to, if it's not going to go vertical, which not a lot of people like to go vertical, it's got to expand. The link to Bridge Street and Peel Street is very, very important.
""It is an old beauty, who with a bit of love and care, will go back to its glorious past."
They have already secured two tenants, the "flagship store" of an "substantial, out-of-town gym operator" and a 72-child childcare centre. Both are likely to open in the first quarter of 2022.
Mr Skagias said Tamworth Regional Council has told him they have been hindered in their efforts to attract government departments by a lack of very large office real estate.
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