Woodside inks long-term housing deal with traditional owners for 20 build-to-leaseback homes in Karratha

In a landmark move, Woodside Energy has inked a groundbreaking long-term deal with Karratha Housing, a local traditional owner business, for the construction and leaseback of 20 houses in Karratha. Anticipated to kick off in the first quarter of 2024, the agreement marks a significant step in fostering collaboration and community development. The lease agreement spans 15 years, boasting two five-year extension options, representing Woodside’s lengthiest direct award to a traditional owner business. The move is expected to generate sustained revenue and assets, laying the foundation for the business’s future endeavours. Under the terms of the agreement, the construction responsibility will be split, with GBSC Yurra tasked with building 10 homes, while Ngarluma Yindjibarndi Foundation Limited, in partnership with Thomas Building, will construct the remaining 10. All of the houses will be maintained by Karratha Housing Pty Ltd for the duration of the leases. A crucial aspect of this initiative is its direct impact on Woodside’s Burrup workforce, with 75 per cent of employees currently residing locally, a notable increase from the 2018 figure of 56 per cent. Woodside Pluto LNG asset manager Ryan Beccarelli said the broader implications of the build-to-leaseback model meant the initiative promised a long-term legacy asset for Yurra, expanded housing choices for employees, and would contribute to the normalisation of the Karratha housing market. “This is an important agreement that supports local traditional owner businesses and employment opportunities as well as providing additional quality housing stock to support our Karratha residential workforce,” he said. Yindjibarndi Aboriginal Corporation chief executive and Yurra Founder Michael Woodley said he was proud to see the partnership inked. “This successful housing development process builds on the existing scaffold supply contract at Karratha Gas Plant and hopefully other opportunities over time as the sophistication of the relationship grows,” he said. While the agreement is subject to conditions precedent, the parties involved are optimistic that these will be met by the end of the year.