AMP set for $165m airport purchase

The Town of Port Hedland is poised to complete Western Australia’s biggest privatisation in 15 years, with a consortium led by AMP Capital set to pay $165 million for a 50-year lease over the town’s airport.


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Port Hedland
The TOPH had $40mill from BHP Billiton from the Kingsford Smith Estate for Airport upgrades, but they shuffled the funds around, and then moved them to another project, with the funds mysteriously reduced to around $36mil. If these funds were deposited properly, with interest, they would be over $50 million now. Why would we believe they will look after the airport lease funds? The council has a track record. Just like the Old Caravan park in South Hedland could not be more than 420 units and now double story with near double the rooms, other caravan parks becoming camps, trying to rezone over 3/4 the town in one swoop to sweeten developers and the list goes on. The Port Haven Facility was to become Town owned and would have its own income for the town but now that will be gone, as will the projected budgeted future income for those leases. Locals being shafted yet again and the Govt. Authorities are weak as hell to step in. What do you expect with the WA and Federal leaders showing how its done.

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Ranked by total area owned then by total assets

7th-Investa Property54,679
9th↓AMP Capital46,673
11th↓Perth Diocesan Trustees41,143
30 property - commercial owners ranked by size of total area in m2

Ranked by size of total area under management

6th-AMP Capital110,110
7th↑Charter Hall90,379
48 shopping centre owners ranked by size of total area in m2

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