Pilbara

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Property and construction group Pindan has secured a new contract to undertake works on a US$2.6 billion Iron Bridge Magnetite Project (Project) in Western Australia’s Pilbara region.
The work is being carried out for Fortescue Metals Group Ltd (Fortescue) subsidiary FMG Magnetite Pty Ltd and joint venture partner Formosa Steel IB Pty Ltd.
Pindan has been engaged to design, supply and install a number of office buildings, as well as delivering associated infrastructure, required at Fortescue’s Herb Elliot Port facility in Port Hedland as part of the overall development of the new magnetite ore processing facility, which lies 145 kilometers south of Port Hedland.
Tony Gerber, managing director Pindan Build, said the group was pleased it could build on its presence in the Pilbara with the awarding of the $3.4 million contract.
“We’ll be handling the delivery of office and meeting buildings, a crib building, permit office and electrical technician’s office, amongst others, within active areas of the Port,” he said.
“Our teams will be on-site for about nine weeks, with works due to be finished in October this year.
“We’re excited about this win and look forward to further contributing to this important WA project as it unfolds over the next two years.” 
Fortescue’s Iron Bridge Magnetite Project – reportedly set to create approximately 3,000 jobs during construction and 900 full-time operational positions – will deliver a 67% Fe magnetite concentrate product with the first ore on ship scheduled for mid-2022.
 
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j.ballantyne1990-6AQqhLzZaK

Pindan secures $2.6 billion Iron Bridge contract in Pilbara region 

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The Tambrey Tavern in Karratha in the Pilbara region, one of the north west’s largest pub and retail liquor outlets, has been re-listed given growing market confidence.
It joins Pilbara's historic Carnarvon Tavern <a href="https://www.urban.com.au/expert-insights/investing/100903-pilbara-s-historic-carnarvon-tavern-hits-the-market" target="_blank">on the market</a>.
The tavern was once owned by former Federal Minister Wilson Tuckey and is alle where he allegedly earned the nickname 'Iron Bar'.
The Tambrey Tavern in Nickol, which generated in excess of $13 million in annual turnover last financial year, has been listed by CBRE Hotels’ Ryan McGinnity and Chloe Mason on behalf of McGrathNicol and the receivers and managers appointed.  
They are offering The Tambrey, which comprises a tavern, bistro and function centre, and an adjoining 850 sqm bottle shop, on a walk in walk out basis.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/4/Tambrey%20Karratha%202.jpg" alt="">
 
The pub turns over around $350,000 a month and the bottle shop over $700,000.
Ryan McGinnity said that uncertainty surrounding Liquor Licence restrictions at the time of a 2017 campaign meant Pilbara operators were facing an uncertain trading future. 
These included proposed blanket reforms for the Pilbara that would stop packaged liquor sales on Sundays and place a limit on takeaway alcohol sales at all other times.
“As the proposed restrictions are now ceased within certain venues and localities, liquor owners and operators are able to confidently invest in Northwest towns such as Karratha,” McGinnity noted.  
 
Chloe Mason added that the well-known venue’s trading and future growth would be underpinned by the region’s permanent population, over 23,000, and its increasing FIFO workforce. 
“The recent announcements around the Perdaman Chemicals and Fertilisers ammonia/urea plant in Karratha and the second stage of Chevron’s Gorgon project, which have a combined development spend in excess of $10 billion, are set to bring thousands of new jobs to the Karratha area,” Ms Mason said. 
 
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jrobinson-rf4aSBido9

The Tambrey Tavern in Karratha re-listed as market confidence grows

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The Carnarvon Tavern in Western Australia's Pilbara has been listed for sale.
The 2,135 sqm property at 12 Camel Lane in the Gascoyne Pilbara Region, some 900 kilometres north of Perth, was once owned by former Federal Minister Wilson Tuckey.
It's where Tuckey allegedly earned the nickname 'Iron Bar.'
It is being sold under the instructions of PPB Advisory's Simon Theobald as liquidator of Symlone Pty Ltd who went into liquidation in April. 
Symlone Pty Ltd paid $600,000 for the property in 2007.
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The doors closed in late March and the property is being offered with vacant possession.
Affectionately known by locals at The Troppy, the Carnarvon Tavern premises comprises a drive through bottleshop and a separate building which is currently leased to a beautician.
The Troppy is licenced for 260 people and has two bars, a number of pool tables, a DJ box, dance floor and full kitchen facilities.
The property is being sold by Ray White's Phil Zoiti and Brett Wilkins.
“It's been a long-time favourite hangout for locals and tourists alike," Zoiti said.
"It’s been a part of the Carnarvon history for many years."
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Pilbara's historic Carnarvon Tavern hits the market

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The alleged former Pilbara Ponzi scheme queen, Veronica Macpherson, has returned to establish a new property business, according to the ABC.

Despite being permanently banned from providing financial services, Ms Macpherson is behind a new cooperative enterprise which aims to develop housing for Pilbara workers.

It comes just three years after the collapse of her Macro group of Pilbara property development companies, with the creditors owed more than $285 million.

Her latest venture — the Pilbara Liveable Cities Cooperative — was approved by the WA Government last year, the ABC reported.

She has registered a distributing cooperative, meaning profits are dispensed to members.

Cooperatives are regulated by state governments and not ASIC.

Ms Macpherson told the ABC that the cooperative enterprise would help her deliver her goal of providing liveable cities in the Pilbara. 

"I am supporting a number of developments who can't raise finance," she said.

"Everyone's looking to me for a solution."

An ASIC spokesman said she was not allowed to arrange any investment in a cooperative or provide financial advice on making such an investment. 

ASIC had advised Ms Macpherson of its opinion.

<h2>Ms Macpherson's bankruptcy also prevents her from being involved with managing a cooperative under WA laws.</h2>

Ms Macpherson described it as a social enterprise, involving some people who had been involved with Macro. 

"I will be a member and a service provider — marketing and corporate advisory for the businesses and developers that we support — until such time as my bankruptcy comes to an end," she said. 

She has also suggested to Macro investors that the enterprise could help them get their money back, 'with outstanding interest following in the next twelve months," her newsletter said.

The disclosure statement outlines the membership structure of her cooperative:

<ul>
<li>"Custodians", who provide property development, management and maintenance services, as well as health and wellbeing services for FIFO workers</li>
	<li>"Pioneers", who will use these services, and "Champions", who will fund the services.</li>
	<li>"Custodians" pay $100 a share and have full voting rights, "Pioneers" will pay annual investment fees of between $120 and $12,000 for no voting rights, while "Champions" can buy a Cooperative Capital Unit, a fundraising vehicle, for $1000 and limited voting rights.</li>
</ul>
The ABC went to an Australian expert on cooperatives, Professor Tim Mazzarol of UWA Business School, who said this structure was not in keeping with the spirit of a cooperative.

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<div class="inline-content photo right">New off-the-plan developments for sale in Western Australia</div>

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<div class="inline-content photo right">[smartcode_project:default project_id=7854]</div>

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Alleged former Pilbara Ponzi queen Veronica Macpherson returns

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ASIC has permanently banned Desiree Veronica Macpherson from providing financial services.
ASIC found that in relation to Ms Macpherson’s involvement with the development and promotion of the Newman Estate Project in the Pilbara region of Western Australia that Ms Macpherson had engaged in misleading and deceptive conduct, that she was not of good fame or character, that she had engaged in dishonest conduct and that she was involved in a contravention of financial services laws.
Ms Macpherson has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
ASIC’s investigation is ongoing.
Macpherson was last in the news earlier this year when she was contemplating publishing a book.
Veronica Macpherson, once the head of the collapsed Macro Realty Group, gave the a book a working title, "The Great Australian Ponzi". 
Her Pilbara property scheme fell <a href="https://www.urban.com.au/news/46197-asic-granted-injunction-against-proposed-pilbara-property-investment" target="_blank">over leaving thousands of investors owed millions in 2015</a>. But bizarrely she suggests there could be a happy ending.
The local media indicated she would launch the book in April featuring "political backflips, errors, mismanagement of the Australian economies — suicides, nasty threats and wild accusations."
Ms Macpherson says it was a book "to get the truth known". 
Featuring the Pilbara Cities that were meant to be, she will be pedalling the line that "ASIC was their own worst enemy."
"One of my sayings is that ‘I am a big fan of the truth’ and unfortunately many people have been left wondering what the truth of the matter actually is with our Pilbara developments," she suggested.
In online material advertising the book, Ms Macpherson was using a picture of herself with Gina Rinehart, believed to have been taken at the CEO Magazine’s Australian Executive of the Year awards in late 2015.
That photograph posted alongside the book title was causing some consternation amongst Ms Hancock’s inner circle yesterday.
A spokeswoman for Mrs Rinehart confirmed to the Perthnow website that the event was the only time the two had ever met.
Mrs Rinehart had no business relationship with the would-be property developer and accused Ponzi queen.
Macpherson, in a five-page letter to “investors, affiliates and associates” sent out under a Macro Investments and Securities letterhead, also contemplated the establishment of a “Pilbara Cooperative” which she claims could provide hope to her many investors.
“The media has not bothered to showcase our past successes, but don’t worry there will be many more through this collaborative structure and great, like minded individuals,” the letter advises.
Macro Realty Developments’ former brand ambassador was <a href="https://www.urban.com.au/news/78226-macro-liquidators-find-300-000-after-150-million-raised" target="_blank">former rugby champion, David Campese. </a>
 
 
 
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Queen of the Pilbara Veronica Macpherson cops ban from ASIC

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Veronica Macpherson, once the head of the collapsed Macro Realty Group, plans to publish a book which she has given a working title, "The Great Australian Ponzi". 
Her Pilbara property scheme fell <a href="https://www.urban.com.au/news/46197-asic-granted-injunction-against-proposed-pilbara-property-investment" target="_blank">over leaving thousands of investors owed millions in 2015</a>. But bizarrely she suggests there could be a happy ending.
The local media says she will launch the book in April featuring "political backflips, errors, mismanagement of the Australian economies — suicides, nasty threats and wild accusations."
Ms Macpherson says it was a book "to get the truth known". 
Featuring the Pilbara Cities that were meant to be, she will be pedalling the line that "ASIC was their own worst enemy."
"One of my sayings is that ‘I am a big fan of the truth’ and unfortunately many people have been left wondering what the truth of the matter actually is with our Pilbara developments," she suggested.
"Please do pre-order a copy... it will help with the print costs and put you in a draw to receive an early addition, which you are welcome to sell to the media if you wish."
She said anyone signing up to the launch would receive an advance copy. There was also an online auction planned of the first release suggested on the <a href="https://www.trybooking.com/book/event?eid=344455" target="_blank">trybooking website</a>.
In online material advertising the book, Ms Macpherson was using a picture of herself with Gina Rinehart, believed to have been taken at the CEO Magazine’s Australian Executive of the Year awards in late 2015.
That photograph posted alongside the book title was causing some consternation amongst Ms Hancock’s inner circle yesterday.
A spokeswoman for Mrs Rinehart confirmed to the Perthnow website that the event was the only time the two had ever met.
Mrs Rinehart had no business relationship with the would-be property developer and accused Ponzi queen.
Macpherson, in a five-page letter to “investors, affiliates and associates” sent out under a Macro Investments and Securities letterhead, also contemplated the establishment of a “Pilbara Cooperative” which she claims could provide hope to her many investors.
“The media has not bothered to showcase our past successes, but don’t worry there will be many more through this collaborative structure and great, like minded individuals,” the letter advises.
Macro Realty Developments’ former brand ambassador was <a href="https://www.urban.com.au/news/78226-macro-liquidators-find-300-000-after-150-million-raised" target="_blank">former rugby champion, David Campese. </a>
 
 
 
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Macro Group's Veronica Macpherson, Pilbara ponzi queen seeking funds to publish tell-all book

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The two brothers who rode the heights of the Pilbara property boom are facing bank foreclosure on part of their property portfolio.
Ryan and Morgan Crawford headed the estate agency that sought east coast investors during the mining boom.
They also invested with much of their own property empire now sold for a fraction of the purchase price, according to Landgate records.
Documents filed in the Supreme Court last week on a repossession application reveal the proceeds have fallen well short of what was owed.
The ANZ Bank wants to repossess one property owned by Ryan Crawford, and has demanded the balance of the outstanding debt, plus interest and costs.
In total, the local newspaper reported the brothers and former colleague Mark Pages-Oliver borrowed more than $5.5 million from ANZ in four years..
Court documents advise the borrowed money was used to buy properties in Port Hedland, South Hedland, Karratha, Roebourne and Newman between 2009 and 2013.
Property prices in Karratha and Port Hedland have fallen dramatically over the past five years.
As guarantors for Niche Residential Pty Ltd, ANZ claimed the brothers took out a $560,000 loan in 2012, which was used to buy an $800,000 three-bedroom, one-bathroom property in South Hedland.
Landgate records show that property was sold in September last year for $79,000, with the bank collecting just $49,600 at settlement.
ANZ claimed in 2013, Morgan Crawford borrowed $920,000 for a $1.25 million three-bedroom, one-bathroom house, again in South Hedland, which sold for $205,000 last year.
The bank received $149,400 at settlement, the document alleges.
Pages-Oliver and Ryan Crawford borrowed $744,000 for a three-bedroom, two-bathroom luxury apartment in Karratha’s Pelago building for $994,900 in 2011 and sold it for $400,000 in January.
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ANZ collected $373,995 from the sale, which allegedly did not cover the balance of the outstanding debt.
Properties owned by the brothers included:
<a href="https://www.realestate.com.au/sold/property-house-wa-south+hedland-122485706" target="_blank">9 Arabella Street South Hedland</a>
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2012.24.41%20PM.png" alt="">
<a href="https://www.realestate.com.au/sold/property-house-wa-port+hedland-123065462" target="_blank"> 177 Anderson St Port Hedland</a>
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2012.27.17%20PM.png" alt="">
 
<a href="https://www.realestate.com.au/property/8-roberts-st-south-hedland-wa-6722" target="_blank">8 Roberts St South Hedland</a>
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<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2012.30.07%20PM.png" alt=""> </div>
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<a href="https://www.realestate.com.au/sold/property-house-wa-south+hedland-119963981" target="_blank">12 Banksia Street South Hedland</a>
<img src="https://www.urban.com.au/images/2017/06/09/Screen%20Shot%202017-06-09%20at%2010.41.53%20AM.png" alt="">
Real Estate Institute of WA president Hayden Groves said the men may have “suffered the same as mum and dad investors” in the region.
“Those sort of market environments, such as the Pilbara, and the towns within it, they are not really for the faint hearted,” he said.
“Investors are attracted to quick returns in any environment ... but any immediate and high-return strategy comes with more risk.
“Unfortunately many investors were caught up in the desirability of having a quick and high return, and sadly many did not get out in time and suffered significant losses as a result.”
Efforts by The West newspaper to contact Ryan and Morgan Crawford and Pages-Oliver, who is believed to be living overseas, were unsuccessful.
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jonathanchancellor-7SQnKwU6yx

Pilbara's millionaire property brothers Ryan and Morgan Crawford facing ANZ repossession

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The Federal Court of Australia has permanently restrained the marketing and promotion of a proposed Pilbara property investment by Macro Realty Developments Pty Ltd (Macro) and made declarations that Macro, Property Tuition Pty Ltd (21st Century Property) and Education Holdings Pty Ltd (21st Century Education) breached various provisions of the Corporations Act by promoting and marketing the investment proposal.
The investment proposal was promoted in 21st Century publications using the tagline 'Do you know how to buy Australian property, no money down?'.
The proposed investment involved investors:
<ul>
<li>becoming a director and shareholder of a company;</li>
<li>acquiring properties from Macro through this company; and</li>
<li>receiving a director's fee but having agreed that Macro would be the sole decision maker for the company. </li>
</ul>
ASIC commenced proceedings in September 2015 against Macro, 21stCentury Property and 21st Century Education in relation to the proposed investment and had obtained interim injunctions stopping the proposal from continuing to be marketed.
His Honour Justice Beach made declarations that the marketing and promotion of the investment proposal by the companies was misleading and deceptive, and that investors had been procured into breaching director's duties.  The features of the proposal found to have been misleading or deceptive included:
<ul>
<li>that the investment proposal was essentially risk free</li>
<li>that it required no money down or capital, and;</li>
<li>that there were no fees involved.</li>
</ul>
In relation to 21st Century Property and 21st Century Education, His Honour also declared that financial product advice had been provided in circumstances where neither entity was licensed to provide advice.
ASIC Commissioner Greg Tanzer said it was another significant outcome in ASIC's ongoing campaign to promote trust and confidence amongst investors.
"We will continue to deter this type of misleading and deceptive conduct."
Macro Realty is owned and run by Veronica Macpherson, "Pilbara's largest private developer" according to its website.
Macro Realty has six projects in Port Hedland, South Hedland and Newman in the Pilbara.
In an emailed response to Fairfax Media, Mr McIntyre called the latest ASIC allegations "baseless" and blamed Macro Realty for not ensuring its advertising was compliant.
"21st Century Media does paid for advertising campaigns for advertisers. In this case Macro [Realty] was offering no money down property which is perfectly legal to do so. As a media company we are not responsible for advertisers ensuring their marketing or offer is compliant," he said.
ASIC has also issued proceedings in the Federal Court of Australia against 21st Century Property and 21st Century Education in relation to their promotion and sale of interests to investors in five land banking schemes in Victoria.
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jchancellor-FAypfDUnLy

No money down Pilbara property scheme retrained by ASIC

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 Conditions for commercial property leases in the Pilbara region are up for the industrial/warehouse section with prices increase from $152sqm to $171 per sqm.
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The Pilbara Commercial Property and Land Snapshot, released March, analysed figures from the proviso quarter and found 103 industrial/warehouse properties were advertised across the Pilbara, up from 101 in the previous quarter. 
The report also found:
<ul>
<li>
The number of retail properties advertised for lease has decreased to 21 from 28 properties last quarter. 
</li>
<li>
Average lease costs per square metre for retail properties has increased to $513 from $503 per sqm. 
</li>
<li>
The number of office properties advertised for lease is this quarter is 28. 
</li>
<li>
The advertised price of office leased space decreased this quarter from $529 to $503 per sqm
<img src="/images/2015/06/17/Screen%20Shot%202015-06-17%20at%202.46.33%20PM.png" alt="">
</li>
</ul>
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