Sounds to me like the drive belt has perished - I see a few sites on the web where you may be able to get a replacement:
1) http://www.vintage-electronics.cc/aiwakits.html
2) http://www.turntableneedles.com/index.asp?PageAction=VIEWCATS&Category=18854ctronics.cc/aiwakits.html
3) http://www.cricklewoodelectronics.com/Cricklewood/home.php?cat=269
Good luck
Bruce
October 2008