The Pilbara Ports Authority subsidiary, Hedland Maritime Initiative (HMI), has provided more information about the Port Hedland Voluntary Buy-Back Scheme.

There are approximately 439 residential dwellings that are eligible for the PHVBS, with 65 per cent of those, or 289, being property investor owned and the remainder owner occupiers.

HMI Managing Director Karlene Bylund told the February Community Industry Forum the PHVBS was well underway after a call for expressions of interest went out in December.

To date, about 25 per cent of eligible property owners have lodged expressions of interest in the PHVBS with HMI.

Under the terms of the PHVBS, eligible residential property owners will be offered a settlement price based on:

  • 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 inclusive of GST for verifiable transaction costs.

The terms of the PHVBS have been set by Government and are not able to be amended to suit individual circumstances.   The PHVBS is designed to address the potential impact on local residential property values caused by Port Hedland West End Improvement Scheme No 1. It is not designed to provide compensation for changes in market value that have occurred over time.

The PHVBS is expected to be open for participation until 31 December 2023.

Residential uses may continue in the precinct. Owner-occupiers can continue to own and reside in their homes and investors can continue to own and rent the property as a residential dwelling.

HMI has said that it would honour existing valid leases on investment properties it buys under the PHVBS.

Owner-occupiers who want to remain in the property as a lessee after a sale to HMI under the PHVBS will be considered by HMI on a case-by-case basis.

HMI has said it could accommodate an extended stay in an existing property by a few means, including a delayed settlement or a lease-back arrangement.

Eligible property owners also have the option of retaining the land, with a view to future non-residential development options as part of a Maritime Precinct.

Under the State Government PHVBS, HMI will purchase the properties as part of its overall remit to facilitate the planning and development of a Maritime Precinct in the town’s West End.

The proposed Maritime Precinct will create multiple opportunities for new economic activity in retail, hospitality, tourism, cultural, as well as training and education – supporting the Government’s goal of revitalising the West End.

More information on the HMI and the PHVBS, including a comprehensive Frequently Asked Questions section is available on the Hedland Maritime Initiative website – where people can also subscribe to a newsletter that will provide regular updates on the project.

Questions can be sent to