Jacko property rumour not so wacko

A BROTHER of legendary pop singer Michael Jackson spent 36 hours in Perth last week investigating opportunities to invest in Perth real estate.

A source confirmed to Business News that Jackson’s brother, Jermaine, flew with Preston Helicopters on Thursday afternoon to Port Kennedy, south of Rockingham, to look at the possibility of investing in the besieged project of developer Port Kennedy Resorts Pty Ltd.

The source said Jackson and a local representative were interested in building a hotel development on the site.

The assets of Port Kennedy Resorts have been frozen after the Supreme Court granted an injunction to Singaporean financier Pac-Asia Holdings Pty Ltd earlier this month.

The injunction means the Subiaco company is barred from disposing of any interest in land or land-related assets other than residential lots in the ordinary course of its business.

Pac-Asia claims it is owed $15 million by Port Kennedy Resorts and is contesting control of the company.

Port Kennedy director Richard Lukin said he was aware of rumours that Jackson visited Port Kennedy.

However, he denied meeting Jackson. He said the injunction prohibited the company from negotiating with parties interested in investing in Port Kennedy.