Reb Pinkus ben Shmuel Ze'ev (Hebrew: פנחס בן שמואל זב) (21 June 1921 – 7 April 1985), known to the public as Paul "Piniek" Fayman, was a Polish-born Australian property developer, philanthropist and businessman. Based in Melbourne, he played a notable role in the city's post-war urban development and was active in the Jewish community. Although not widely known to the public, his work in real estate, retail, and industry had a lasting influence on Melbourne's commercial landscape. Fayman was directly involved with several prominent post-war corporations including Development Consolidated, Wright Bros, Hanover Holdings, Protean Holdings, and Austram Corporation.
Biography.
Early life.
Fayman was born in Pilica, a small village in east-central Poland, and was raised in the nearby industrial city of Sosnowiec. His father, Shmuel, was a livestock trader and his mother, Leja (Heb: Rachel), stayed at home and took care of Paul and his 10 siblings. The family spoke Yiddish at home, observed Jewish customs, were active in the local religious community, and lived in modest conditions typical of many Polish Jews at the time. Rabbi Yitzchok Dovid Groner described Fayman's upbringing as being "very Jewish". He received a traditional Jewish education and, upon graduating in 1937, Fayman supposedly began low-wage work as furrier apprentice. 
By the late 1930s, growing antisemitism and political instability had begun to affect Jewish communities across the region. Paul and his family were captured by the Nazis, they were split up, and transported to various different concentration camps across Europe. He would spend the next 4 years and 7 months of his life in concentration camps including Zakrzów, Reigersfeld, Blechhammer, Gross-Rosen and Buchenwald. Fayman reflected on his time during The Holocaust in a 1969 interview with John Sorell: 
 "Then the Nazis marched through. We were Jewish, and in 1942 they split us up and carted us off to various concentration camps ... I managed to survive the camps, mainly by good luck. I ended up being liberated from Buchenwald by the Americans. I spent the next year or so as a refugee tramping through Czechoslovakia, Hungary and Poland looking for my family, but I couldn't find anyone."
Post-war life and migration to Australia.
Fayman eventually got word that his younger sister, Cesia had settled in Germany. "I found her. That was one of the happiest days of my life" he recalled. They reconnected, and Paul moved into a nearby unit at a public housing estate in Neuhausen. Reflecting on that period, he stated: "For a long time I didn't know what to do. I had somehow lost the urge to work. Then I got a break. The Americans were selling some disposal goods from their Post Exchanges – chocolates, soap and other items. I became a wholesaler." he recalled. His unofficial business was conducted through Germany's thriving post-war black market, where Post Exchange goods deemed excess or obsolete by the military were sold or bartered informally.
His customer base included local Germans seeking Western products, fellow Jewish displaced persons who had access to hard currency or American relatives, and small shopkeepers looking to stock rare or in-demand items. Fayman's refugee identification card from 1951 lists his occupation as "shoe maker", though this was almost certainly a coverup of his informal black market activities.While living in Munich, Fayman claims to have financed and/or produced a film about the Holocaust, intending to expose the atrocities committed against his people. Although the mysterious, unnamed film was supposedly completed, it was never publicly shown because it got Fayman into "political hot water". The work, which was produced at some point between 1945—51 and likely shot on black and white 35mm safety film, is now considered lost and is unlikely to be released posthumously. The film appears to have only been mentioned in a 1969 interview with Australian media, with no clues given about its cast, plot, budget or name – only that it was, in his words "meant to show people what the germans had done to the Jews".Fayman married his wife, Fela, in 1946 and they had two children. After the Berlin Blockade began in 1948, his sister Cesia emigrated to Australia, fearing another European war. Paul initially planned to immigrate to the United States, having completed his paperwork and packed his belongings. However, after speaking with his sister on telephone, he changed his decision. As he later recalled:"""When I rang Cesia in Melbourne she was so upset at the thought of the two remaining members of the family splitting this way that I decided, on the spot, to make Australia my new home too."""Paul, his wife and their two young children left the Port of Genoa in December 1951 and spent several weeks aboard the TSS Maunganui"," eventually arriving at the Port of Melbourne in January 1952. He immigrated as Pinkus Fayman, but was known professionally in Australia as Paul Fayman. Arriving with "a bit of money" and limited understanding of English, he bought a home in Thornbury and began seeking opportunities to acquire a small business. 
Early ventures in Australia.
After only a few months in the country, Paul and his brother-in-law, Stan "Shayek" Fayman, became the proprietors of the "Rennie Service Station" at 184 Sydney Road, Coburg (demolished c. 1984). Their business offered drive-in petrol filling facilities and a range of automotive services including greasing, oil changing and battery recharging, as well as the sale of batteries, tires and other accessories. This business had been sold by late 1954. 
Paul remained at the service station for a little over a year before joining forces with fellow Jewish migrant Max Siegal to acquire a small wholesale butchery on Oakover Road, Preston. Initially profitable, the business soon made the news—both locally and abroad—after it was found to be systematically overcharging customers. In a high-profile case, both Fayman and Siegal were fined £80 and pleaded guilty to eight counts of price gouging. In their letter of defence to the Preston Court, they claimed to have only recently entered the trade. This assertion stands in stark contrast to Fayman’s own recollection in his sole biographical interview conducted by John Sorell in 1969, in which he described working “sixteen hours a day, six days a week, for four years” before selling out. Regardless, the Siegal-Fayman partnership was dissolved and their meat business was sold in 1954. 
Involvement with the Esplanade Hotel (St. Kilda).
Following the sale, Fayman supposedly purchased a nearby delicatessen and subsequently expanded it into a chain of 33 stores across the Greater Melbourne area. He later sold the delicatessen chain and shortly before the 1956 Summer Olympics, partnered with Stan Fayman and Mark Nowak to acquire a joint stake in a private company called Esplanade Freeholding, which operated the prominent Esplanade Hotel at St Kilda.
They had hoped for late-night trading approvals, but their expectations were unmet. Furthermore, the local council and licensing court rejected their proposed £1500 expansion of the hotel, which had been designed by notable architect J. Wallinga and would have seen the addition of a continental-style garden dining-room, increasing the venue's dining floor capacity from 200 to 650 persons. "Unfortunately, a large block booking was cancelled, which, coupled with other problems, gave us a hard struggle which lasted two years" Paul recalled.
Wright & Bros..
He gave up the hotel, and, pooling funds with four partners, bought a controlling interest worth about $310,000 in Wright & Bros; an old-established chain of delicatessens which had branches in the Melbourne CBD and in suburbs like Collingwood, Malvern and Prahran. After taking control of the company, he assumed the role of Chairman and helped strategically expand its scope of operations by leading a program to diversify, creating subsidiaries that invested in property development, retail, electronics and produce wholesaling. "But, with self-service upon us, I realised the shops were too small. So we sold them off at quite a nice profit" he said. 
Realestate career.
After divesting from Wright & Bros, Fayman ventured into real estate, focusing on residential developments in Melbourne's burgeoning outer suburbs. He noted the ease of property sales during that era, stating, "In those days it was so easy, you could sell off a map, you didn't even need to make roads." In 1959, Fayman lead the development of the "Highburn Estate" (1959) at the southwest corner of Blackburn and Highbury Roads in Mount Waverley, comprising over 100 residential lots and a strip of 12 shops, now known informally as the Tally Ho shopping centre. 
In 1956, Fayman purchased a derelict poultry farm at Canterbury Road, Forest Hill. Several adjoining land titles were subsequently acquired over the next two years, and in 1958, construction began on a 200-lot residential subdivision known as Forest Hill Heights. This was soon followed by the construction of the adjacent Forest Hills Shopping Centre, which opened after delays in 1964 and quickly became one of the region's most successful suburban retail centres. Over the following decade, the broader precinct was further developed to include two service stations, a multi-storey office building, a fitness centre with an indoor swimming pool, a restaurant, and a picture theatre, transforming the area into a vibrant commercial hub. Fayman's development at Forest Hill is considered to be a pioneering commercial development in the context of post-war Australia, and introduced the country's first Safeway supermarket.
In 1967, Bill Gelfand—one of Paul Fayman’s consultants and close business associates—proposed the potential subdivision of land situated east of Springvale Road in what was then known as East Burwood (now Vermont South). Recognising an opportunity to boost the catchment area for his nearby Forest Hill Shopping Centre, Fayman proceeded to acquire 80 acres at a cost of $640,000, or $8,000 per acre—nearly double the prevailing rate for rural land in the district. The initial development, named "Burwood Rise", introduced over 270 residential lots between Livingstone and Stanley Roads, and around Dalroy Crescent and Consort Avenue. Rolled out in five stages between 1968 and 1971, it marked the first formal housing estate in the area that would come to be known as Vermont South.In the years that followed, a series of additional estates emerged throughout the surrounding landscape. These included the 260-lot "Sara Heights" estate in and around Charlnet Drive and Torwood Drive (1971); the 80-lot "Carrington Heights" estate, incorporating Delacombe Drive and Winjallock Crescent (1975); and the 126-lot "Burmont Heights" estate, which created Hartland Drive and Highmont Drive later that same year. Smaller, unnamed subdivisions were also established along Burwood Highway, including a notable 130-lot development at the north-western corner of Terrara Road. In 1974, Fayman’s firm Hanover Holdings completed the Vermont South Shopping Centre, positioned alongside a 105-lot housing estate centred on Hanover Road and the western end of Woodleigh Crescent—effectively laying the foundation for the modern suburb of Vermont South. Fayman also oversaw a company called Hanover Homes, which constructed hundreds of the homes in Vermont South.
One of Fayman's most ambitious inner-city projects was the Centrepoint Mall on Bourke Street in Melbourne's central business district. Undertaken as a joint venture with Maurice Alter, the mall opened in 1979 and was positioned diagonally opposite the Myer Emporium. The development aimed to revitalise a prominent block of under-utilised buildings and brought together fashion retailers, specialty stores, and dining outlets under one roof. Fayman also owned the adjoining Leviathan Building. His estate sold these sites three years after his death in 1985, fetching over $74.2 million. The joint sale marked the largest single property deal in the Melbourne market since the 1987 stock market crash.
Business partners and strategies.
Fayman was associated with what journalist Ruth Ostrow called the “New Boy Network”—a cohort of largely migrant entrepreneurs, including many Holocaust survivors and Jewish businessmen, who helped transform corporate Australia in the post-war era. Often operating outside the traditional Anglo establishment, they forged new pathways to wealth and influence in industries such as property development, retail, and finance. Fayman once told John Sorrell:"I believe that anyone who works with me should share in any prosperity. I work them hard, but I pay them well. I'm an easy going man, I tackle any job, I thoroughly enjoy being a good businessman".Fayman always preferred joint ventures, particularly with other members of the flourishing local Jewish community. During his more than 30 years in Australia, he undertook ventures with–or conducted business alongside–many prominent figures in post-war corporate Australia, most notably Maurice Alter, George Herscu, Stanley Korman, Eddie Kornhauser, Arnold Bloch, and Chaim Liberman.Reflecting on their long professional association, solicitor Leon Velik described Fayman as “a brilliant financial mind,” noting, “he was also a bit of a dealer... he would swiftly sell and move onto the next deal.” 
Many of Fayman's real estate developments in Melbourne employed a mixed-use strategy that integrated residential, commercial, and industrial components within a single master-planned estate. This approach not only maximised land use but also provided self-contained communities with immediate access to essential services and amenities.
Personal life, politics and philanthropic efforts.
After achieving financial success, Paul moved into a double-storey modernist residence at Balmoral Court in Saint Kilda East, which stands among the more prominent architectural landmarks in the area. The house regularly hosted meetings of Jewish community groups and was notably burglarised in March 1970 by the serial thief known as "The Cat" (real name John Harvey Rider), who stole approximately $15,000 ($212,000 in 2024) in cash and jewellery the night before the Fayman family was due to leave for a holiday. Fayman did not live an overly-extravagant lifestyle in comparison to some of associates like George Herscu, but was known to host high-profile functions and once had a 1966 Pontiac GTO imported from the United States. 
He had few outside interests apart from his work with the Jewish community but took a liking to horse racing, co-owning several racehorses with property developer Eddie Kornhauser. Fayman frequently flew overseas to conduct business and periodically attended ICSC conferences. He lead a private life and rarely engaged with the media, with only one major biographical interview being conducted just after his takeover of Allans Finance in 1969.
Fayman was a well-known supporter and donor of the Victorian Labor Party, and maintained close relationships with several influential figures within the party. Cultivating close ties with key Labor politicians including Sam Cohen, Irvin Rockman, Ted Innes, and Alwynne Rowlands, he was also connected to close associates of Prime Ministers Gough Whitlam and Bob Hawke. One such associate, Leon Velik, played a key behind-the-scenes role in Whitlam’s election as leader of the Australian Labor Party in February 1967. Fayman's political engagement reflected a broader trend among his business peers—many of whom, especially Eddie Kornhauser, George Herscu, and Maurice Alter, also maintained strong affiliations with the Labor Party. Fayman had many connections within the greater Jewish community and maintained friendships with prominent figures including Rabbi Chaim Gutnick and Rabbi Yitzchok Dovid Groner. 
Fayman was a committed supporter of Israel and an active donor to a wide range of Jewish causes. In Melbourne, he contributed to institutions including Beth Rivkah College, Yeshivah College, Elwood Talmud Torah Hebrew Congregation, Mount Scopus Memorial College, the United Jewish Education Board, and the Montefiore Homes for Jewish Aged. He also supported national and international initiatives, such as Magen David Adom, the United Israel Appeal, the WIZO State Council of Victoria, and the Samuel Herbert Cohen Memorial Fund. In 1963, he contributed funding towards the construction of the 13-storey Jabotinsky Centre and National Museum in Tel Aviv. In his memory, the Paul Fayman Memorial Scholarship was established at Yeshivah–Beth Rivkah Colleges to "give the opportunity to children of families who would otherwise be unable to financially provide them with a Jewish education". Rabbi Groner said in 1987:"Mr. Fayman appreciated the importance of a Jewish education, particularly in countries such as Australia and felt the necessity to imbue our youth with the true principles of our faith."
Death and legacy.
Since surviving the European concentration camps, Paul Fayman experienced recurring health issues that occasionally disrupted his work. In the lead-up to his death, he had recently undergone heart bypass surgery and, according to a close associate, maintained some old habits—such as enjoying a morning cognac—which suggested he was not in ideal health. Nevertheless, his sudden passing came as a profound shock to his colleagues and friends. 
Fayman died unexpectedly on 7 April 1985, at the age of 63—on the Second Day of Passover (10 Nisan 5745)—just hours before he was scheduled to fly out for a meeting with Guinness executives to finalise a very important business deal. He is buried alongside his wife at the Chevra Kadisha Cemetery in Springvale. His business interests were passed on to his descendants, who continue to manage the Fayman International Group of Companies — which is primarily engaged in produce wholesaling and biochemical production. 
Corporate expansion.
Development Consolidated.
In 1959, Fayman partnered with a group of Jewish businesspeople, to form a private company that would consolidate their individual property and industrial interests under a single, mutually beneficial corporate entity. The company, known as Development Consolidated Pty Ltd, initially established its headquarters in the Lombard Building on Queen Street before relocating to larger offices at the Bank of Adelaide Building on Collins Street. One of the group’s principal subsidiaries, Retail Developments Pty Ltd, specialised in establishing large-format retail stores that were leased to national chains such as Woolworths, Coles, and Safeway. In addition, the company developed dozens of smaller retail sites, particularly in Melbourne’s outer suburbs—including Fawkner and Box Hill—as well as regional centres such as Morwell and Niddrie. Another notable subsidiary, Forest Hill Heights Pty Ltd, was responsible for the development of the Forest Hill Shopping Centre.""In July 1960, Development Consolidated submitted a proposal to the Minister for Public Works to develop an Australian version of Disneyland—named "Australialand"—on a 500-acre site in Laverton. The project was officially announced in "The Age" four months later, describing plans for “educational exhibits, together with the more customary forms of children’s entertainment.” Although the Melbourne and Metropolitan Board of Works granted provisional approval, the project was ultimately abandoned. According to contemporary reports, the decision followed a stern warning issued by Walt Disney’s Australian representative, Walter A. Grainger, and was compounded by the 1961 credit squeeze.""
Another major subsidiary of the group, Wright Bros Development, was formed through the diversification of the Wright Bros delicatessen chain. It was responsible for a series of large-scale mixed-use developments across Melbourne’s expanding suburbs during the early 1960s. Among these was a major project in Clayton, on a former agricultural site between Wellington and Dandenong Roads. There, the group developed the "Hotel Monash" complex alongside a 90-lot housing subdivision, a small shopping strip, and a service station. Other significant residential estates undertaken by the group included the 220-lot "Waverley Views Estate" in Glen Waverley (1958–63), the 51-lot "Warragul Park Estate" in Warragul (1960), and the 31-lot "Eliza Downs Estate" in Frankston (1963).
Between 1959 and 1961, Development Consolidated was also involved in the construction of the "Borrack Square Shopping Centre" in Altona North. Comprising 30 shops, the centre was developed in tandem with the adjacent hotel (a first for the area) and integrated into a new 110-lot residential estate. The group also owned and operated the "Shepparton Indoor Bowling Centre", which opened in July 1963 and became a local success. Development Consolidated was dissolved by 1968, although many of its companies were retained by Fayman through a separate holding structure known as the Masaga Group of Companies.
Masaga Investments and Hanover Holdings.
In 1969, Fayman partnered with Maurice Alter and George Herscu to the shares of a public company. They acquired a controlling interest, and diversified — creating a realestate/investment conglomerate called Hanover Holdings. This strategic takeover created a back-door listing of his companies onto the stock exchange, and marked the beginning of a highly-successful venture which would make them very wealthy. Hanover was a prominent, often controversial name in post-war corporate Australia, capitalising on the coinciding population boom and subsequent demand for housing. Hanover and its companies were behind the development of multiple large-scale office complexes, housing estates and commercial/retail sites particularly in the Greater Melbourne area but also in New South Wales, Queensland, and Tasmania and later the United States. Hanover eventually became unprofitable and its shares were subsequently bought back by Fayman, Alter and Herscu, who swiftly privatised in 1976 (much to the outrage of minority shareholders) and effectively split the company's assets/subsidiaries between themselves.
Aerojet Caterers and Astrojet Exhibitions.
In 1968, it was revealed that Paul Fayman, Leon Velik, Joseph Emmanuel and Irvin Rockman (and potentially others) had partnered with the Petersville Corporation to create a company called Astrojet Exhibitions. The firm had obtained the lease of a large vacant space located near the soon-to-be opened Tullamarine International Airport, and later released plans to build an aviation-themed entertainment complex on the site. This eventuated as the Astrojet Space Centre, which opened in July 1970 with a 300-seat cinema and aviation exhibits with a guided-tour service. The partnership also founded Aerojet Caterers, which was let the contract for all catering services within the new airport. This venture proved highly successful, with Aerojet retaining management of the Airport's restaurants for over 15 years until it became embroiled in Supreme Court disputes, eventually dissolving in 1992.
Mascot Industries (Austram Corporation).
In November 1980, a company acting on behalf of Paul Fayman successfully launched a takeover bid for Mascot Industries, a company engaged in meat processing operations in New South Wales, Australia. Following the acquisition, Paul Fayman, his son William Fayman, and his nephew Marvin Fayman were appointed to Mascot's six-member board of directors. Shortly after the change in control, Mascot Industries was effectively merged with Protean Holdings, a separate wholesale enterprise in which the Fayman family held an approximate 20% stake. As part of the transaction, Mascot sold its principal subsidiaries to Protean for a total of $7.89 million. In exchange, Mascot acquired nearly $3.9 million worth of Protean shares and convertible debenture stock. The divested assets included abattoirs and business operations in tallow, meat meal, fertilisers, tennis strings, and smallgoods—areas in which Protean already had commercial involvement. In April 1981, Protean Holdings disclosed that it had acquired an additional 20% interest in Mascot, raising its total shareholding to approximately 80% and securing effective control of the company. 
In 1981, Protean Holdings became the subject of public controversy when two Victorian Liberal Members of Parliament, Maurice Williams and Don Saltmarsh, alleged that the company had connections to organised crime in the United States, specifically the Las Vegas Mafia. They suggested that the company's meat export operations could serve as a conduit for drug trafficking, arguing that narcotics could be concealed in meat products, which were more difficult for sniffer dogs to detect. Despite the severity of these accusations, no concrete evidence was presented, and the MPs cited parliamentary privilege in refusing to disclose their sources. 
Further concerns emerged in the same year when ProFreeze, a registered business name under Protean Holdings, was reported to have exported meat cartons containing horse and kangaroo meat—practices that drew media scrutiny and added to the company's reputational damage. In response to the mounting negative publicity, Protean substantially reduced its Melbourne operations by approximately 40%, resulting in layoffs or forced leave for nearly a third of its 350-strong Melbourne workforce.The fallout from the accusations, combined with broader industry challenges such as livestock shortages and rising interest costs, contributed to a significant financial downturn for Protean. By the end of the financial year, the company had recorded a loss of $1.5 million. On 4 July 1982, a fire destroyed Protean's recently renovated abattoir in Brooklyn, wiping out over $13 million of investment. The blaze, which occurred during the early morning hours, was widely suspected to be a case of arson, with speculation mounting that it may have been an attempt to claim insurance amidst the company's worsening financial situation. Following an additional operating loss of more than $7 million, Protean Holdings was placed into receivership later that year.
While Protean faced mounting challenges, Mascot Industries pursued new investment opportunities. In 1981, the directors began seeking an entry into the entertainment businessness. At the time, Paul's son William "Bill" Fayman—one of the directors—was already involved in Australian film production in collaboration with horror film producer Tony Ginnane and British actor David Hemmings. Mascot was approached by a broker looking for investors into First Artists, a production company founded in 1969 by five Hollywood megastars of the day: Barbra Streisand, Paul Newman, Sidney Poitier, and Steve McQueen to support artist-led motion picture production. This venture resulted in the production of some acclaimed movies including Barbara Streisand's "A Star is Born (1976)," Steve McQueen's "The Getaway (1972)" and Sidney Poiter's "A Warm December (1973)". 
When Steve McQueen died in 1980, the rules of the partnership changed and Mascot was able to acquire a controlling interest. The acquisition was finalised in November 1981, resulting in the Fayman family acquiring a 56.2% stake in the company. Although First artists made a couple of films with Billy Wilder, over time it became increasingly apparent that the business model was flawed. A director of Mascot recalled "The scripts were not great and budgets were limited. The stars also began fighting fighting amongst themselves. So, after a number of years, we decided to sell our stake in the company to LA businessman Sam Shulman ... it was a worthwhile deal for us".
In 1983, Mascot Industries underwent a comprehensive corporate restructuring and was rebranded as Austram Corporation. The name change reflected the company's expanding portfolio, which had diversified well beyond meat processing. By this point, Austram's business interests spanned multiple sectors, including film production, plastic packaging, ten-pin bowling, clothing manufacturing and distribution, chemical production, and property investment in both Australia and the United States. In the United States, Austram partnered with the T & G Mutual Life Assurance Society to develop the Ryan Ranch Office Park in Monterey, California. This project was carried out through Hanover Equities, a U.S.-based subsidiary associated with Fayman's Australian operations. Fayman also established a blocks of condominiums in Las Vegas.
In April 1984 the Austram Corporation launched a $66 million partial takeover bid for Email Limited, a prominent Australian white goods manufacturer. The offer proposed $1.70 per share for 50.1% of Email's equity, valuing the company at approximately $132.55 million. At the time, Email was emerging from a five-year period of extensive rationalisation and restructuring. Austram had previously acquired a 7.1% stake in the company following the divestment of a 10% holding by Simpson Holdings, which facilitated Austram's entry into Email's register. Austram's managing director, Efrem Goldhammer, stated that the bid was driven by confidence in Email's recovery and its future profitability, noting that the company was considered undervalued by the market. Although Austram had evaluated a move on Email over the preceding year, it was only after the Simpson stake was released to institutional investors that the opportunity arose. The decision to pursue a partial rather than a full takeover was explained as a strategic move to make the offer more defensible.