Project Group Constructions calls in the administrators

Project Group Constructions calls in the administrators
Staff reporterMarch 26, 2018

Project Group Constructions, a builder working on residential and commercial projects across Melbourne with contracts valued at about $190 million, has gone into voluntary administration.

The Burnley-based Project Group is a company with about 100 staff.

The projects listed on Project Group's now disappeared website include the 16-unit Carlton Apartments project by MQ Property Group; Codstream's $30 million 48-unit Merri Green residential project in Melbourne's inner northern suburb of Northcote; the 19-unit 70 Wattletree Road project in Armadale by developers Buxton Group and Roulston; Outline Projects' 29-unit Little Oxford development in Collingwood, and the QMAX Development in Prahran.

It went into administration last Friday with a preliminary estimate, excluding employee entitlements, of $22 million in debts – $7 million of that secured to banks and unsecured debts worth $15 million – Matthew Jess of Worrells Solvency & Forensic Accountants told The Australian Financial Review.

 

Editor's Picks

Tian An launches North Village, Auburn Square second stage
The lure of Yamba: The holiday destination people want to live
“Pioneers of amenity spaces”: Far East Consortium doubles down on facilities at 640 Bourke
VIC Government extend stamp duty abolition for off the plan properties to October 2026
JWLand approaches completion of De Burgh, Northbourne Village apartments