The wealthy and private Caratti farming family has been linked to a major CBD office deal of this year, the $11.3 million purchase of 218 St Georges Terrace.
The wealthy and private Caratti farming family has been linked to a major CBD office deal of this year, the $11.3 million purchase of 218 St Georges Terrace.
Department of Land Information and Australian Securities and Investments Commission records show interests associated with Allen Caratti made the acquisition in July.
Records show that the Hawaiian Group sold the eight-storey building to a company called George 218 Pty Ltd, ultimately controlled by Tina Bazzo, who is understood to be the partner of Mr Caratti.
ASIC records show the sole director of George 218 is Tina Bazzo. She is also sole director and shareholder of Gucce Holdings Pty Ltd, which controls George 218.
The Caratti family is no newcomer to the property market, with the empire created by Italian migrants Sergio and Maddeliene Caratti, considered among the biggest land holders in Western Australia – mainly in extensive farm interests that also make them one of the biggest grain growers in the nation.
However, despite being regarded as secretive, the Carattis came to attention of federal authorities, which probed their business dealings extensively in the 1990s.
The result was both criminal and civil action against family members and entities associated with them.
In 1989, Mr Caratti and his mother, Maddeliene, were acquitted of charges of conspiring to defraud the Commonwealth. Allen’s brother, John, was convicted and sentenced to four and a half years’ jail.
In the WA Supreme Court earlier this year, the Australian Taxation Office claimed more than $2 million in unpaid tax and penalties from Caratti family companies, with the judge saying there was a failure to keep records, dishonesty about whether records existed and the keeping of false records.
Such issues have not stopped the growth of the family empire, however.
This year, the family bought three more farms totalling 14,224 hectares in the eastern Wheatbelt south of Bodallin for between $6.4 million and $7.1 million.
Mr Caratti has also been making news for the past couple of years for links he is understood to have with his former land development partner, bankrupt businessman Kevin Pollock.
Mr Pollock is currently the subject of an ASIC investigation, and 14 of his companies are in various stages of liquidation or administration.
A woman understood to be Mr Pollock’s daughter is listed by ASIC on the board of Rubynet Pty Ltd, along with Ms Bazzo.
ASIC records show Ms Bazzo is listed as the director of 23 companies including Jade Asset Pty Ltd, which has been a significant share market player – notably in speculative mining stocks during the past decade with frequent mentions as a top 20 shareholder.
The office building recently purchased by interests associated with Ms Bazzo has been owned by interests connected with Hawaiian Management since 1998.
The net lettable area of the building is 4,712 square metres. Major tenants include Ambrosini Professional Placements, Keystart Housing Scheme, a Westpac branch and Posh Nosh takeway.
Hawaiian originally purchased it on behalf of a company bearing the name of its former managing director, Brett Wilkins Investments.
Earlier this year, a representative of Hawaiian said the group’s portfolio had outgrown the boutique nature of the asset.
Hawaiian’s interests are currently valued at more than $1 billion, and include Cable Beach Club in Broome, a 50 per cent share in development sites in Claremont and Bishops See, 182 St Georges Terrace, the Durack Centre, London House, Parmelia House and several shopping centres.
