The NWA West Perth District Council has announced it is selling its North West Millwork properties to private investors, including an investment group headed by billionaire businessman Moehl Millwork.
The council said the properties will be sold at auction in June.
The sale of the property portfolio, which includes Millworks property, was announced at a press conference at the NWA headquarters in Perth on Thursday.
“The sale of Millworks properties will enable us to fund the redevelopment of North West,” NWA chief executive Mark Stirling said.
The NCA said Millwork was also listed on the company’s registered agent’s website, which lists a Melbourne address as his office.
The portfolio includes Millwork property and two other properties, the NCA says.
“Mr Millwork is the owner of Millwork Homes, which owns all of MillWorks properties in Western Australia,” it said in a statement.
“Millworks is one of Australia’s most renowned private residential builders.
He is an internationally renowned builder with a long and successful track record in the construction of iconic properties.”
Millworks has been in business for more than 75 years and the development of Millwaters North, North West and South West is one the most significant in WA and its assets have been in private hands for more then half a century.
“The NWAC said it was working closely with Millwork on the development and that the sale was subject to “appropriate approvals”.
The NwACA said it had not received a formal offer for the property.
Mr Stirling thanked Millwork for its support, but said the company had always been clear that the property was not for sale.
The news comes just days after NWA said it is “deeply disappointed” to learn of the NwSA’s decision to sell its Millworks assets.
The organisation said in an email that it had “no reason to believe” that the NWSA’s board had given the company an unsolicited offer for a portion of its assets.
NwaSWA is a government agency that manages NWA properties. “
NWA is deeply saddened to hear that the owner is preparing to sell some of its properties, and is seeking to sell them to private owners, including a company with significant financial interests in Millworks,” he said.
NwaSWA is a government agency that manages NWA properties.
NwCA has said it has no plans to sell any of the Millworks holdings, but Mr Stirl said the agency was still in the process of securing a buyer for Millworks.
“In the coming weeks, we will have further discussions with Mr Millwright and other interested parties to establish the price and terms of the sale,” he told AAP.
“We will also continue to work closely with the NSA Board to explore opportunities to bring this property to greater fruition.”
The decision to end Millworks’ lease of the site comes after the NwsSA approved a deal for the company to build a new stadium in Fremantle.