JAC Group managing director Dean Cocker and Mr Chromy yesterday pointed out some of the special features of the development expected to be completed by December 18, 2015.

Included was the area for a Disneyland-style dark ride following the tale of bushranger Matthew Brady, the creation of a grand entrance leading into the development and a place for movie projections.

A walkway, rock climbing wall, quick jumps, zip line and restaurants will also feature.

The second and third phases of the development will include a chairlift and tram service.

Mr Cocker said the existing stone buildings would be retained in the development, which is expected to cost $20 million.

‘‘The Penny Royal is history in some ways because it is Tasmania’s only theme park,’’ he said.

‘‘This is a part of Launceston and Tasmania’s history.

‘‘We will keep the existing stone buildings as a backdrop for the food, wine and adventure precinct.’’

Mr Chromy said he could not choose a favourite aspect of the development.

‘‘We needed something in Launceston for more tourism,’’ Mr Chromy said.

‘‘I am not happy that a lot of good people study here and have to go elsewhere – we need people to stay here.

‘‘A lot of people will be working here.’’