• 50 eligible properties sold to Hedland Maritime Initiative
• Over 50% of eligible residential property owners have sought a valuation
• Plans to create a vibrant Maritime Precinct for all to enjoy

Hedland Maritime Initiative reached an exciting milestone today, with 50 properties acquired through the Port Hedland Buy-Back Scheme (PHVBS).

In addition to the 50 properties settled, owners of a further 50 properties have accepted offers, pending contract.

Hedland Maritime Initiative Managing Director Karlene Bylund said there has been great uptake of the PHVBS process.

“Over two-thirds of eligible West End property owners are engaged in the PHVBS process, with over 50 per cent receiving valuations for their properties,” Ms Bylund said.

“The sellers to date include both investors and owner occupiers, with the 50 properties acquired located throughout the Maritime Precinct.”

The PHVBS offer includes a 35 per cent premium of the agreed market value, which is indexed cumulatively each year, and up to $20,000 (inclusive of GST) for verifiable transaction costs.

Ms Bylund commented that the offers have been received extremely positively, with less than one percent of offers declined.

“Hedland Maritime Initiative acknowledges that each property owner has unique circumstances that will factor in their decision to sell, stay or to consider re-development opportunities,” she said.

“My team and I are on hand to discuss the PHVBS process with eligible property owners and answer questions, with owners being able to receive an offer without any obligation to sell.”

Concurrently Hedland Maritime Initiative is working with property owners, businesses and the local community to facilitate new economic development for the Town of Port Hedland and the Pilbara region.

Amenities identified for inclusion in the Maritime Precinct include a maritime museum, a fit-for-purpose seafarers’ centre and a Pilbara Training College, complete with marine simulators and a Helicopter Underwater Escape Training facility.

For more information visit www.hedlandmaritime.com.au

ENDS

Media enquiries: phvbs@hedlandmaritime.com.au