Port Hedland locals are turning down multimillion dollar offers on their homes from BHP Billiton, which is looking to redevelop the town’s harbour entrance.
According to The West Australian BHP is planning to build a tugboat pen in the harbour but its plans have been stalled by locals who refuse to sell their land.Port Hedland resident Darryl Brown, a local since 1964, told The West Australian BHP offered him $2.9 million for his harbour-front home but he had no intention of selling.
Jan Ford of Jan Ford Real Estate in Port Hedland said Brown’s property was worth “substantially more” than BHP’s offer.She told the West Australian she would feel “quite comfortable” paying $5 million for his home. A spokesperson for BHP said it had approached Brown about the sale but the process was normal.”BHP Billiton Iron Ore owns a significant property portfolio in Hedland in support of its Pilbara operations,” they said.
“BHP regularly adds to this property portfolio to further support its operational needs.”
Property values in Australia’s mining regions continue to demand high prices as local towns struggle to keep pace with expansions in the industry.
Tags: BHP, Port Headland
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