- State Government agrees to Port Hedland Voluntary Buy-back Scheme following extensive consultation with property owners
- Scheme to be funded by industry, offered voluntarily to West End property owners, and includes a 35 per cent premium on market value
The State Government has provided in-principle support for the Port Hedland Voluntary Buy-back Scheme, following extensive consultation with property owners and industry.
Development of the scheme follows the State Government's proposed planning controls in the West End following the recommendations from the Port Hedland Dust Management Taskforce report and subsequent representations from local landowners on the need for a voluntary buy-back option.
The voluntary scheme will apply to the area of land between Taplin Street and the port in the West End of Port Hedland that is subject to the draft West End Improvement Scheme, which is currently being advertised for public comment by the Western Australian Planning Commission.
The scheme is a voluntary option available to owners of the more than 400 permanent residential dwellings that are located within the draft improvement scheme area.
Eligible residential property owners will be offered a settlement price calculated as follows:
- the agreed market value of the property as at August 6, 2019 (indexed);
- a premium of 35 per cent of the agreed market value; and
- an amount of up to $20,000 for verifiable transaction costs.
The voluntary scheme will be funded by industry, with work under way to finalise the funding mechanism.
The scheme will be administered by the Pilbara Ports Authority and governed by a board of directors that will include representatives from the Pilbara Development Commission, DevelopmentWA, and the Department of Planning, Lands and Heritage.
It is proposed the scheme would become available in the second half of 2020 and remain open for at least three years.
The delivery of the voluntary scheme will not in any way lessen industry and State Government responsibilities for dust mitigation in the West End.
Comments attributed to Regional Development Minister Alannah MacTiernan:
"The Port Hedland Voluntary Buy-back Scheme is designed to provide options to property owners in the West End whose land is subject to a rezoning to limit residential use in the West End.
"The McGowan Government has developed this voluntary buy-back option through an extensive consultation process that was led by independent consultant Ross Love last year.
"This is a good outcome for landowners in the West End: those that wish to take up the option will receive a 35 per cent premium on their property value, while those that wish to remain can do so.
"The McGowan Government is committed to developing the West End as Port Hedland's buzzing maritime and commercial hub, backed by our investment into the Spoilbank Marina and ongoing work on future opportunities for the area."
Comments attributed to Pilbara MLA Kevin Michel:
"I have taken the representations made to me by landowners in the West End to Government, and I am glad that the State Government has taken action to resolve those concerns.
"This scheme will provide options for people living in the West End and ensures residents are treated fairly."
Minister's office - 6552 6200