The Prater-Wheatley family has received a double boost from Eagers Automotive, which disclosed it made $12 million in rental payments last year for properties owned by the Perth ‘rich listers'.
Car dealer Eagers Automotive's dramatic share price drop this week was costly for shareholders, notably the local Wheatley family, the value of whose stake fell more than $30 million yesterday.
A developer will turn a rundown West Perth site into a $107 million hotel and apartment complex after receiving unanimous support from an assessment panel.
Australia's largest automotive dealer is planning a major restructure of its Perth properties, buying three from the Wheatley-Prater family and exiting six others.
Michelle Prater (nee Wheatley) brings a unique perspective to the natural tension between landlords and tenants in the current market - she is a director of the country's largest car dealer and one of their largest landlords.
