A row has erupted over plans to build a £56 million retail and leisure complex in Oswestry which would create hundreds of jobs and attract thousands of visitors.

While some have hailed the proposed development on the outskirts of the town as “exciting” and one which will boost the local economy, some town centre traders fear it will serve as a “death warrant” for town centre businesses.

Yossi Gliksman, owner of Upstairs Downstairs in Leg Street and chairman of the Chamber of Commerce in Oswestry, said businesses are up in arms over the proposals for the livestock market site.

He said about 80 business leaders in Oswestry objected to the development plans at a recent meeting and have united in the fight against the proposals.

“Although we welcome the development of the cattle market, which has always contributed to the economic welfare of Oswestry, a retail park on the outskirts of the town will be devastating,” he said. “The repercussions will be huge and will affect all the town centre businesses.”

Mr Gliksman added: “There are around 200 small businesses in Oswestry and each and every one is working incredibly hard to survive in this small market town.”

However, council officials and north Shropshire’s MP Owen Paterson have welcomed the scheme, which will include a multiplex cinema, a supermarket, restaurants and retail outlets.

“The overall investment is a huge vote of confidence in Oswestry and will help us compete with neighbouring towns and prevent retail slippage,” said Oswestry Town Mayor Doris Barrow.

“This can only benefit the town generally, boost local economy and provide new employment opportunities.”

Mr Paterson said the “imaginative” scheme will make an “excellent” use of a strategic site in the town, bringing jobs and prosperity to the area.

Development company Liberty Mercian Ltd, which has worked on town regeneration projects across England and Wales, joined forces with the landowner, Oswestry Town Council and Oswestry Cattle Auctions in 2007.

And Mark Jones, based at the National Farming Union’s Oswestry office, has also welcomed the proposals. He said: “I’m delighted with this proposal as the livestock market needs to be modernised. We have a fantastic farming community in the area which supplies the market and we want it to be the largest and best.”

He added: “If this proposal brings in other larger retailers selling high-quality local produce I would also be very pleased.

“This development is important for the town and we are always pleased to see investment, new jobs and improved facilities.”

And now Oswestry residents are being given the chance to see the plans for the multi-million pound development on land at Oswestry Livestock Market, for themselves.

Public consultation exhibitions will be held in the town’s Memorial Hall, Smithfield Street, on Thursday from 11am to 7pm and again on Friday from 10am to 5pm.

“We hope lots of people will attend our exhibition and see the plans for themselves,” added Chris Towers, of Liberty Mercian.