What’s New

IBN Group makes Strategic Acquisition in Tom Price

Thanarru Members,

It is my pleasure to update you on some exciting news from IBN Group.

In our current Strategic Plan, we have a focus on generating new, diverse sources of income.

This is to make sure we have revenue still flowing in after mining activities wrap up in Tom Price over the coming years.

The Board and Executive Team are making sure we are prepared now to have enough income for the trust to exist long into the future.

So, with that said, I am pleased to inform members that IBN has settled on the purchase of the building on Stadium Road in Tom Price that houses Coles and Millstream Cafe.

The opportunity to purchase this property not only aligns with our Strategic Plan but also aligns with the objectives of the Trust Deed in making sound, long-term investment decisions for the future.

This is a strategic investment that will provide IBN with ongoing revenue from rent, especially from Coles who has decades remaining on their lease.

These investments also allow us to reinvest revenue generated back into community initiatives, fostering economic empowerment and self-sufficiency among our valued members.

I want to thank the team who worked hard on this transaction for all their efforts, it’s a great outcome and will benefit us for many years.

We look forward to continuing to execute on our Strategic Plan and updating our members as we progress.

Scroll to Top