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Hanover Holdings Ltd.
FormerlyAllans Finance Ltd.
Company typePrivate
IndustryRealestate
Founded14 July 1958
Defunct24 March 1976
FatePrivatised, assets split up
Headquarters158 City Road, Southbank
6 Riddell Parade, Elsternwick
276 Collins St, Melbourne
Key people
Paul Fayman
Maurice Alter
George Herscu
J. H. Conyers
Fredrick George Dodd
Gavin Thompson Conole
Eustace Alwynne Rowland
Arnold Block
James Hemphill
Sir Frank Tate
G. H. A. Allan
R. L. Montgomery
A. Fairfoul
W. G. Hall
Revenue
  • Decrease AUD$631,000 (1974)
  • IncreaseAUD$1,800,000 (1973)
  • IncreaseAUD$67,000 (1969)
SubsidiariesEighth Hanover Admin. P/L
Eleventh Hanover Admin. P/L
Fifteen Collins Street P/L
First Hanover Admin.
Forest Hill Heights P/L
Fifth Hanover Admin. P/L
Fourth Hanover Admin. P/L
Fulton Constructions P/L
Gavan & Shalala P/L
Hanover Administration P/L
Hanover Developments P/L
Hanover Investments (ACT)
Hanover Investments (NSW)
Hanover Investments (SA)
Hanover Investments (VIC)
Hanover Investments (WA)
Hanover International (UK)
Hanover Homes P/L
Hanover Management P/L
Hanover Retailers P/L
Herscal Holdings P/L
Herscu Investments P/L
HSP Nominees P/L
Land Sales & Dev. P/L
Montvale Developments P/L
Murrajong Nominees P/L
Ninth Hanover Admin. P/L
Retail Developments P/L
Second Hanover Admin. P/L
Sixth Hanover Admin. P/L
Seventh Hanover Admin. P/L
Span Investments P/L
Tenth Hanover Admin. P/L
Third Hanover Admin. P/L
Thornhill Pastoral Co. P/L
Vista P/L
Whitehorse Freeholds P/L
Wright Bros. (Narrabri) P/L
Wright Bros. (Provisions) P/L
Wright Bros. (Retail) P/L
Wright Bros. (Wholesale) P/L
Wright Bros. Dev. P/L
Wright Bros. Television P/L.

Hanover Holdings Limited was an international property development group based in Melbourne, Australia. It was originally founded in 1958 as Allans Finance; a publicly-listed hire-purchase company of music retailer Allan & Co. In 1969, property developers Paul Fayman, Maurice Alter and George Herscu acquired a majority of its issued shares, and the company's operations were shifted to focus on the development, leasing and management of regional shopping centres, subdivision and/or development of residential and industrial estates, speculative land buying and home construction.[1]

Hanover quickly became a prominent name in the 1970s Australian property sector and rode the crest of the property boom, boosting profits from $67,122 in 1969 (AUD$984k in 2024) to a reported peak of over $1.8m in 1973 (AUD$20.8m in 2024). In 1974, the bubble burst, causing profits to plummet to $631,000 (AUD$6.3m in 2024).[2]

History

[edit]

Allans Finance

[edit]

In June 1958, music and electrical retailer Allan & Co of Collins Street announced plans to form a company which would handle all the hire-purchase financing previously carried out by the Allans Group.[3] Allans Finance Limited was registered on 14 July 1958 with a nominal capital of £1 million. Appointed directors were Sir Frank Tate, G. H. Allan, R. L. Montgomery, A. McB. Fairfoul and W. G. Hall.[4] The company's initial issue of 500,000 ordinary 5/ shares at par was heavily oversubscribed.[5]

In May 1959, Allans Finance took over the hire purchase business previously conducted by the Hartley-Edments store chain. This was in a bid to secure additional outlet for the company's funds, which had been employed financing various retailers in the electrical appliance, music instrument, radio, TV and furniture fields.[6] In its 1959/1960 annual report, the company chairman announced plans to diversify Allans Finance by expanding the scope of is investments. These expansion plans were financed by issue of first mortgage debenture stock.[7]

Formation of Hanover Holdings

[edit]

When developers Maurice Alter and George Herscu were inspecting shops at Paul Fayman's recently extended Forest Hill Shopping Centre in mid-1967, Herscu suddenly blurted out "Why just buy the shops? I want to buy the whole centre." The three got along and had a lot in common they were hard working, Jewish men with an interest in property development, and who'd settled in Australia after surviving the horrors against their families in Nazi Germany.[8]

By July 1967, the trio had moved into an office at 6 Riddell Parade, Elsternwick. In March 1969, in a bid to enter the Melbourne Stock Exchange, their company Masaga Investments bought out about 64% control of Allans Finance; the publicly-listed hire-purchase subsidiary of Allan & Co. Subsequently, Allans Finance was transformed into a holdings company, officially re-listed on the Stock Exchange as Hanover Holdings on 20th May 1969. The companies associated with it's new directors Maurice Alter, Paul Fayman and George Herscu were progressively incorporated as subsidiaries in the resulting months.[9]

Bid for London Stores

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In October 1969, Hanover made a $3.4m (AUD$49.8m in 2024) takeover offer for London Stores Ltd., a city and suburban department store group. Hanover had been buying shares in Londons Stores in the months leading up to the offer.[10] The Slater Walker group, through Beau Monde quashed the Hanover bid with an offer nearly 40 percent greater.[11] Hanover made a capital profit of $97,962 (AUD$1.3m in 2024) on its London Stores takeover bid. Chairman Alwynne Rowlands said the directors thought it was more prudent to sell the shares already held than make an increased offer.[12]

Interstate activities

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Hanover Holdings was listed on the Sydney Stock Exchange on 21 January 1971 and a regional office was established in late 1972.[13] In November 1972, company Chairman James Hemphill announced that Hanover would kickstart it's Sydney operations with a commercial and retail development project in the inner suburb of Marrickville worth $10m (AUD$1.26m in 2024). Textile Holdings had sold the 10-acre site, bounded by Sydenham Park and Livingstone Roads, to Hanover under a conditional contract. Although Marrickville Council had given approval to build a shopping centre with two major department stores, 80 variety shops and parking for 2000 cars, the project never eventuated.[14][15]

In January 1973, Hanover Holdings linked with the Kornhauser Family in a $2.4m (AUD$27.7m in 2024) million effort to keep Australian National Hotels (ANH) locally owned. Their offer came just a week after ANH announced it would raise $3.5 million ($40.4m in 2024)by selling a big slice of the company to Asian interests.[16] The offer, which provided that the 10 million shares be taken up in equal quantities by Hanover and the Kornhauser Family, was ultimately rejected by ANH.[17] Around the time of the failed bid, Hanover Holdings struck a deal with the Kornhauser family, buying half of its interest in the Chevron Hotel at St Kilda Road. In conjunction with the deal, the Kornhauser family got a 25 percent interest in a project Hanover had going in Surfers Paradise - designated as Hanover Surfers Paradise (HSP). The plan envisaged construction of a $30 million hotel-casino on the historic Surfers Paradise Hotel site, which had been purchased for $4.7 million.[18]

In January, 1974, the Kornhauser-Hanover partnership announced plans to redevelop the St Kilda Road Chevron Hotel at a cost of $30 million and applied for a licence to run a casino in the basement. Twenty-three other applications for a casino licence in Victoria had been made and in April 1976, a Cabinet sub-committee recommended that a licence be issued. However, the Parliamentary Liberal Party of Victoria rejected the idea by what was estimated as a three to one vote. The official police view, as put by Inspector Fred (The Cat) Sylvester, chief of the Vice and Gaming Squad, was that a casino should not be allowed in Victoria. Eventually in 1976, the Chevron, apart from the bistro, was sold to the adjoining Alfred Hospital. Hanover's annual report of November, 1975 indicated that the Hanover-Kornhauser partnership had been dissolved. In 1976, Emil "Eddie" Kornhauser bought out Hanover's interest in the Hanover Surfers Paradise project, which was being managed by a company called HSP Nominees.[18]

Bid for Australian Mont de Piete Loan and Deposit Co.

[edit]

In March 1971, Hanover made a $631,872 (AUD$8.4m in 2024) offer to takeover local pawn broker, the Australian Mont de Piete Loan and Deposit Co. Hanover directors considered pawnbroking 'unfashionable" and that company's earning rate had been low compared with companies providing other forms of personal finance.[19] The day after Hanover's offer, A. Monte's stock price jumped from $1.32 to $4 a share.[20] In May 1971, Directors of A. Monte recommended against its shareholders accepting the takeover offer, which was ultimately withdrawn by Hanover in June 1971.[21]

Landall investment

[edit]

Beginning in mid-1973, Hanover began acquiring interest in Perth-based home builder Landall Holdings. By February 1974, Hanover had accumulated a 15.74 percent interest in the company and speculation of a takeover offer grew.[22] On 5 April 1974, directors of both companies announced that Hanover would pay $1,277,500 to lift their stake in Landall from 16 to 49 per cent. Hanover directors undertook not to acquire more than 51 per cent of Landall without an offer to all shareholders, and said no offer was envisaged. Hanover sold three development sites to Landall, guaranteed loan funds worth $500,000 and provided real estate and finance expertise.[23] This was part of a long-term plan for the two groups to co-operate in future with residential developments.[24] Landall fell victim to the 1974/75 Credit Squeeze, experienced multi-million dollar losses, and was ultimately placed into receivership.[25][26]

Privatisation

[edit]

Much to the outrage of the minority shareholders, the Alter-Fayman-Herscu triumvirate announced plans to privatise Hanover in October 1975. They made an offer for the remaining shares, which turned out to be significantly below the real value of its assets. In March 1976, the three directors declared that the acquisition was unconditional and their bid was processed shortly thereafter. Hanover Holdings was officially delisted from the stock exchange on 24th March 1976 and its assets were divided between the directors over the following two years.[27]

Key people

[edit]

Paul Fayman (CEO)

[edit]

Pinchas Ben Shmuel Zev (Hebrew: פנחס בן שמואל זב), known professionally as Paul Fayman, was a successful international property developer and entrepreneur based in Melbourne, Australia. He was born in 1911 at Sosonowiec, Poland and came to Australia in 1952 after surviving the Holocaust. Upon arriving, he established a wholesale butchery in partnership with Max Siegal at Oakover Road, Preston.[28] Fayman later became a director of Wright & Bros.; a prominent produce merchant[Note 1] which had branches in the Melbourne CBD and in suburbs like Collingwood, Malvern and Prahran.[29] By late 1958, Fayman had acquired a majority of the company's issued shares, which had previously been held by the late managing director Crawford Leslie Johnston Wilson.[30] Upon gaining control of Wright & Bros., he strategically expanded it's scope of operations. Multiple subsidiaries were set up as part of the diversification, which managed investments into developing property and produce wholesaling.[Note 2]

Fayman's developments often employed a mixed-use strategy, incorporating residential, commercial and industrial lots. A prime example of this was the 200-lot Forest Hill Heights housing estate and adjacent Forest Hill Shopping Centre, which his company Forest Hill Heights P/L developed between 1959-1964.[Note 3][31][32] Similar developments include the Borrack Square Shopping Centre, Central Hotel and adjoining 110-lot housing estate at Altona North (developed 1959–61)[33][34] and a 90-lot housing estate with adjoining shops, industrial sites and the Monash Hotel at Clayton (developed 1960–63).[35]

George Herscu and Maurice Alter (directors)

[edit]

Israel Ben Jacob (Hebrew: ישראל בן יעקב), known professionally as George Herscu, was born at Bucharest, Romania in 1928. After surviving the horrors of The Holocaust, Herscu was dispatched to the Bonegilla Migrant Camp in 1950, cooking and cleaning shoes on the ship to Australia. He then went to Hobart, where he got a job as a store man for realestate firm A. V. Jennings. In 1952, Herscu opened a milk bar in Yarraville, which he bought with a Czechoslovakian migrant whom he met in a gymnasium. They did the place up, sold it for a profit, and bought another one... and another... and another. "I know a good business - I can smell it," Herscu skited. By 1964, Herscu had teamed up with Maurice Alter (born c. 1925–26).[36]

Reputation

[edit]

The reputation of Hanover and its directors was severely tarnished by a series of unethical actions and legal controversies. According to a merchant banker familiar with the company, the leadership dynamic at Hanover was marked by individual egos that made constructive collaboration nearly impossible. The banker described the directors as having inflated senses of self-importance, with Maurice Alter believing himself to be the most intellectually superior, Paul Fayman seeing himself as the most cultured, and George Herscu convinced he was the most daring.[36]

A few years after Hanover Holdings was privatised, directors Maurice Alter, Paul Fayman, and George Herscu were exposed for their involvement in a large-scale tax avoidance scheme, which was uncovered by government investigators in 1978. The scheme, which involved falsifying company returns by using fake names and addresses, was estimated to have cost the Federal Government $200 million in lost revenue. This discovery prompted an official inquiry led by the Liberal government's Corporate Affairs Office. Investigators, including barrister Patrick McCabe and investigator David Lafranchi, gathered evidence that implicated numerous individuals, with Hanover's directors among the primary beneficiaries. [37]

Further damaging Hanover's reputation, in 1983, former director George Herscu was convicted of making secret payments to officials within the Builders Labourers Federation, including the notorious union leader Norm Gallager. Maurice Alter was also implicated, alongside the Grollo Brothers, in a scheme that further demonstrated the corrupt dealings at the highest levels of the company. A judge who sentenced Gallager to jail referred to Herscu and Alter as "calculating, corrupt men," a characterisation that would follow them for years. Despite the severity of the offenses, both Herscu and Alter avoided formal convictions, with the magistrate offering a bond in lieu of a conviction. This decision, however, came with a pointed remark about the potential "catastrophic" consequences for them if convicted—specifically, their disqualification from acting as company directors, a fate that would have been devastating for their future in business.[38]

Assets and projects

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Hanover and it's subsidiaries developed and/or owned hundreds of commercial/industrial buildings and residential estates including:

  • Forest Hill Chase at Mahoneys Road, Forest Hill (developed 1956–64 by Fayman's company Forest Hill Heights; later a subsidiary of Hanover)[39]
  • Bundoora Arcade in Bundoora (opened 1969)[40]
  • The Chevron Hotel at 519-539 St Kilda Road (jointly owned and operated by Hanover and Emil Kornhauser between 1969-mid 1970s)[41]
  • Boronia Arcade at 246 Dorset Road, Boronia (opened c. 1971)[40]
  • 264 Little Collins Street, Melbourne (acquired for over $1 million in April 1972)[42]
  • Hanover Arcade at Walker Street, Dandenong (opened 1970)[43]
  • HCV Estate at Broadmeadows (some houses built c. 1970–75 by the group's speculative housing division; Hanover Homes)[44][45]
  • Hanover Shopping Centre at Koroit Street, Warrnambool (opened 1971)[46]
  • 288 Queen Street, Melbourne (purchased by subsidiary of Hanover from MGM for $385,000 around 1971)[42]
  • Burntbridge Shopping Centre at Beaufort Road, Ringwood East (opened 1972)[47]
  • Niddrie Arcade at Keilor Road, Niddrie (opened c. 1972)
  • Mooroolbark Village Shopping Centre at Brice Avenue, Mooroolbark (opened 1972)
  • Centrepoint Shopping Centre at 289 Bourke Street, Melbourne (purchased in 1972, retained by Fayman & his trust until 1988)[48][49]
  • Hanover House at 158 City Road, Southbank (developed as the tallest building in Southbank until 1990)[50]
  • Box Hill Arcade at 934-940 Whitehorse Road, Box Hill (acquired after Hanover purchased all issued shares of Whitehorse Freeholds P/L in 1972)[51]
  • 168 Exhibition Street, Melbourne (developed by Hanover in 1972, purchased by State Trustees)[42]
  • Northcote Arcade at 319 High Street, Northcote (opened 1972)[52]
  • Town Hall Shopping Centre at 149 Maroondah Highway, Ringwood (opened 1972)[47]
  • Former Repco International Offices at 112 Buckhurst Street, South Melbourne (developed c. 1972–73)[42]
  • Parkmore Shopping Centre at Cheltenham Road, Keysborough (opened 1973)[53][54]
  • Leviathan Building at 271-281 Bourke Street (acquired by Hanover for $2.5 million in 1973, retained by Paul Fayman & his trust until 1988)[55][49]
  • Balmoral Arcade in Frankston (opened 1973)[42][56]
  • Dandenong Hub Arcade at Langhorne Street, Dandenong (developed 1973–74 by Hanover, sold to the Local Authorities Superannuation Board)[39]
  • Vermont South Shopping Centre and 105-lot housing estate (developed 1973–74, centre retained by the Pacific Group until early 1980s)[57]
  • Whitehorse Plaza in Box Hill (site acquired after Hanover bought all issued shares of Whitehorse Freeholds P/L in 1972, opened November 1974)
  • 518-520 Collins Street, Melbourne (developed by Hanover in 1975, retained by George Herscu's companies until 1989)[58][42]
  • Diamond Village Shopping Centre at Nepean Street, Watsonia (developed by Hanover in 1974)[39]
  • Churinga Shopping Centre at Mount Dandenong Road, Kilsyth (developed by Hanover in 1975)[39]
  • Gala Cinemas and Bowl-O-Matic at 139-159 Thomas Street, Dandenong (sold c. 1975 as part of a diversification program)[59]
  • Former Venture Department Store (Now Coles) at 1389 Centre Road, Clayton (sold c. 1975 as part of a diversification program)[59]
  • Chapel Street Bazzar (Prahran Shopping Arcade) at 211-219 Chapel Street, Prahran (sold c. 1975 as part of a diversification program)[59]
  • 288-292 Queen Street, Melbourne (corner development site sold c. 1975 as part of a diversification program)[59]
  • 738-742 Glenferrie Road, Hawthorn (group of shops sold c. 1975 as part of a diversification program)[59]
  • Shopping Centre and Coles at 16 Reibey Street, Ulverstone (sold c. 1975 as part of a diversification program)[59]
  • Factories at Cnr. Arden & Laurens Streets (built by Masaga around 1969, sold 1975 by Hanover as part of a diversification program)[59]
  • 127-137 Riverside Avenue, Southbank (six-storey office development sold c. 1975 as part of a diversification program)[59]
  • 45 Victoria Street, Kerang (double-storey supermarket sold c. 1975 as part of a diversification program)[59]
  • 107-111 Station Street, Ferntree Gully (large shop sold c. 1975 as part of a diversification program)[59]
  • 100-108 Ryrie Street, Geelong (retail market sold c. 1975 as part of a diversification program)[59]
  • Huntingdale Factoryettes at Lots 2, 6 & 10 Carnish Road, Huntingdale (sold c. 1975 as part of a diversification program)[59]
  • 320-322 Racecourse Road, Flemington (sold c. 1975 as part of a diversification program)[59]
  • 117-123 Raymond Street, Sale (sold c. 1975 as part of a diversification program)[59]
  • North Croydon Shopping Plaza (developed c. 1975–77)[39]
  • Tunstall Square Shopping Centre, Doncaster East (developed in 1975 by a company of George Herscu, later sold to Coles Myer Ltd.)[39]
  • Lilydale Station Estate at Lilydale (lots first released in 1976)[60]
  • Waverley Gardens Shopping Centre at Mulgrave (opened 1977)[39]

References

[edit]
  1. ^ Finance and Business: From today Allans Finance Ltd. will be known as Hanover Holdings Ltd. The Age. 20 May 1969. p. 18.
  2. ^ McDougall, Graeme (26 November 1975). "Hanover gets inside offer". The Age. p. 21.
  3. ^ "Allan's Plan Hire Purchase Company". The Age. 11 June 1958. p. 6.
  4. ^ "Allans Hire Purchase Issue Soon". The Age. 15 July 1958. p. 6.
  5. ^ "Allans Finance Called Today". The Age. 14 August 1958. p. 6.
  6. ^ "Edments hire-purchase to Allan's". The Age. 20 May 1959. p. 7.
  7. ^ "Allans Finance to Diversify". The Age. 11 October 1960. p. 8.
  8. ^ Hills, Ben (7 December 1990). "House of cards: Herscu's making ... and breaking". The Age. p. 6.
  9. ^ "Hanover plans move to property". The Age. 23 April 1969. p. 20.
  10. ^ "Hanover bids $3.4 million for store". The Age: Business Age. 29 October 1969. p. 15.
  11. ^ "Beau Monde bid details". The Age: Finance Pages. 4 December 1969. p. 14.
  12. ^ "Hanover's large capital profit". The Age. 8 October 1970. p. 21.
  13. ^ "Share market: late recovery". The Sydney Morning Herald. 21 January 1971. p. 16.
  14. ^ Henderson, Don (9 December 1972). "Hanover comes to Sydney". The Bulletin. 094 (4833): 53 – via Trove.
  15. ^ "Textile Holdings has $1.2 million loss: property sold". The Sydney Morning Herald. 17 November 1972. p. 21.
  16. ^ McDougall, Graeme (27 January 1973). "Business Age: Hanover, hotel family join in casino offer". The Age. p. 20.
  17. ^ McDougall, Graeme (1 February 1973). "Business Age: ANH willing to talk - but only on loan funds". The Age. p. 11.
  18. ^ a b Whitton, Evan (23 February 1982). "The QLD casion stakes: big profits and a coalition". The Sydney Morning Herald. p. 2.
  19. ^ "Bid for pawnee". The Age. 19 May 1971. p. 19.
  20. ^ "Merger stocks steal the show". The Age. 19 May 1971. p. 15.
  21. ^ "Hanover declines to bid". The Sydney Morning Herald. 4 June 1971. p. 20.
  22. ^ "Hanover to bid for Landall?". The Sydney Morning Herald. 19 February 1974. p. 17.
  23. ^ "Hanover buys control of Landall". The Age. 6 April 1975. p. 19.
  24. ^ "Bond stays confident". The Sydney Morning Herlad. 18 October 1974. p. 12.
  25. ^ "Landall crisis won't hurt Hanover, directors say". The Sydney Morning Herald. 22 October 1974. p. 25.
  26. ^ "Hanover". The Age. 15 March 1975. p. 23.
  27. ^ Clarke, Anthony (18 March 1976). "Hanover offer to close soon". The Age. p. 18.
  28. ^ "Two Butchers Fined £80 for Excess Prices". The Age. 12 May 1954. p. 5.
  29. ^ "£128 in Fines Against Collingwood Food Shops". The Age. 20 July 1956. p. 7.
  30. ^ "£255,032 Left by Director". The Age. 1 October 1958. p. 12.
  31. ^ "Shopping centre". Herald. 19 July 1957. p. 13.
  32. ^ "Model of New Shopping Centre Excites Interest". The Age. 27 May 1959. p. 15.
  33. ^ "Altona schemes to be discussed". The Age. 30 May 1958. p. 3.
  34. ^ "Altona to get its first hotel". The Age. 21 May 1959. p. 10.
  35. ^ "Licensing acts: Notice of application for a victualers license for premises to be erected at Clayton". The Age. 23 January 1960. p. 63.
  36. ^ a b Hills, Ben (8 December 1990). "From billionaire to Boggo Road". The Age. p. 16.
  37. ^ "Hundreds named in tax scheme report". The Age. 28 May 1982. p. 1.
  38. ^ Cooper, Karen (24 June 1989). "Don't drop your bundle, says man with $2 billion dollar hiccup". The Age Newsmakers. p. 2.
  39. ^ a b c d e f g Directory of Australian Shopping Centres. National Council of Shopping Centres. November 1980.
  40. ^ a b "Shops to let". The Age. 29 October 1969. p. 35.
  41. ^ Simmons, Margaret (22 June 1991). "Kornhauser: a man among friends". The Age. p. 6.
  42. ^ a b c d e f Mitchell, John (19 April 1972). "Hanover buys city store". The Age. p. 17.
  43. ^ "Hanover Holdings, City of Dandenong, Commercial Properties To Lease, Hanover Arcade". The Age. 4 April 1970. p. 45.
  44. ^ "Massive slump in Hanover profit". The Age. 5 February 1975. p. 19.
  45. ^ Davidson, Christopher (1 October 1975). "Hanover moves investment focus". The Age. p. 19.
  46. ^ "Royal Archer Hotels". The Age. 13 December 1969. p. 27.
  47. ^ a b "Hanover Holdings - Applications are now invited for the selected retail premises listed below". The Age. 6 November 1972. p. 69.
  48. ^ McDougall, Graeme (7 January 1972). "Hanover buys the stockade". The Age: Business Age. p. 9.
  49. ^ a b "The Fayman Family". Australian Financial Review. 6 April 1990.
  50. ^ Mitchell, John (11 April 1973). "Not only developers but tenants, too". The Age. p. 23.
  51. ^ "Hanover Holdings has acquired all the issued shares of Whitehorse Freeholds Pty Ltd". The Age. 13 April 1972. p. 21.
  52. ^ "Retail opportunity - shopping arcade". The Age. 24 June 1972. p. 79.
  53. ^ "50 years of Trading at Parkmore Shopping Centre". Talking Business. June 2023 – via City of Greater Dandenong.
  54. ^ "Restaurant opportunity in Victoria's 5th largest shopping complex". The Age. 28 August 1973. p. 2.
  55. ^ McDougall, Graeme (18 January 1973). "Leviathan stores goes for $2.5 million+". The Age. p. 13.
  56. ^ "Balmoral Centre, Frankston". The Age. 19 April 1972. p. 16.
  57. ^ "Hanover Holdings Burwood Shoppingtown". The Age. 26 June 1973. p. 41.
  58. ^ "For sale by tender, the best address next to the new Stock Exchange, 520 Collins Street, Melbourne". The Age. 14 November 1989. p. 33.
  59. ^ a b c d e f g h i j k l m n "AUCTION - Tuesday, 30th September at 10:15 AM at the Douglas Room Windsor Hotel under instructions from Hanover Holdings Ltd., which is carrying out a diversification program and as to part from Messrs. Kliger, Fayman and Lew, solicitors. 12 retail investments, 8 industrial investments, 2 city properties". The Australian Jewish News. 19 September 1975. p. 7.
  60. ^ "First Release - Lilydale Station Estate". The Age. 8 January 1977. p. 49.

Notes

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  1. ^ Although Wright & Bros mainly focused on it's chain of deli/butcher stores, the company also operated two electronics stores at Maroondah Highway in Ringwood and one at Main Street in Lilydale. Source: "Phone Now to See The Latest in TV at your home TONIGHT!" The Age 16 October 1959 (page 13)
  2. ^ Wright & Bros. had several subsidiaries including, but not limited to: Wright Bros. (Agencies) P/L (also known as Wright Bros. Builders), Wright Bros. (Narrabri) P/L, Wright Bros. (Provisions) P/L, Wright Bros. (Retail) P/L, Wright Bros. (Wholesale) P/L, Wright Bros. Development P/L and Wright Bros. Television P/L. Source: Australian Securities & Investments Commission Website
  3. ^ Forest Hill Heights had also proposed to build a hotel and infant welfare centre as part of the original development plan, but it wasn't until 1968 that a fully-licensed restaurant opened at the site. This was due to significant delays caused by public outcry and subsequent interference from the local council. The infant welfare centre controversially never eventuated.
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