Property market update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
Several related entities of a property and SMSF accountancy firm have gone into various stages of collapse, including at least two receiverships and a liquidation.
SMSF Adviser attempted to contact Charterhill Group chief executive George Nowak, reaching the following voicemail message: “If your call is in relation to Charterhill Group, please contact Heard Phillips Accountants".
Heard Phillips Accountants confirmed that they have been appointed as administrators of Nova Real Estate Proprietary Limited and liquidators for Lending Solutions – two Charterhill entities - by Mr Nowak.
Heard Phillips director Anthony Phillips also confirmed that he had been advised on Friday that Michael Basedow and Leigh Prior from Pitcher Partners, Adelaide were appointed receivers and managers to Financial Wellness Pty Limited and EJ Property Developments Pty Limited, two additional Charterhill entities.
When contacted, Mr Basedow confirmed that Financial Wellness Pty Limited and EJ Property Developments are both entities of Charterhill Group.
A call to Charterhill Group’s office phone could not be connected today.
An email to George Nowak received a bounce back alert.
According to Charterhill Group Pty Ltd’s LinkedIn company page, Charterhill are “chartered accountants specialising in property investment with self-managed superannuation funds” and offer the following services: “accounting and financial planning”, “sourcing property”, “property research centre”, and “SMSF borrowing.”
According to an ASX announcement of 15 August 2013 relating to Charterhill Group’s acquisition of Natural Fuel Limited, “Charterhill Group are chartered accountants specialising since 1998 in real estate procurement and property portfolio building solutions for retirement planning and self-managed super fund property structuring.”
A self-managed super fund is a private super fund that provides benefits to its members upon retirement, directly managed by an individual for their benefit and in compliance with super and tax laws.