An epidemic of construction defects and phoenixing companies is gripping the nation.
Icon has spent $26 million on the Opal Evacuation and repairs.
#MascotTowers #Defects #HeiseSays New cracks have been discovered at Mascot Towers. References https://www.abc.net.au/news/2019-10-15/mascot-towers-warnings-of-structural-failure/11604326
#OttoRosebury #Balcony #Economy #HeiseSays Balconies at the Otto Rosebury are defective, with the body corporate letting only three people occupy them at a time. References https://www.news.com.au/finance/real-estate/buying/company-behind-opal-tower-fiasco-caught-up-in-new-building-defect-row/news-story/b356707b79f507a377b339a71a5b2f22
#MascotTowers #Construction #Economy #HeiseSays Owners of the troubled Mascot Towers are facing a potential bankruptcy over a difficult funding decision. References Mascot Towers residents given two ‘very bad’ options after building failure https://www.smh.com.au/national/nsw/mascot-towers-residents-given-two-very-bad-options-after-building-failure-20191009-p52z0e.html
#Mascot #Construction #Repair Over a third of Mascot Towers Owners cannot afford their $60k repair bill and because of thermal loading on the building in summer, time is running out. Should the state government step in and help these people or is this an example of Caveat Emptor? References Many Mascot Towers owners can’t pay […]
#Canberra #CrackDown #Construction The ACT Government is proposing a new measure to crack down on builders. While some of the measures do sound good, it is much too late for all the buildings built during the last decade. References Canberra builders could face further crackdowns as ACT seeks ‘highest quality buildings in Australia’ https://www.abc.net.au/news/2019-09-04/canberra-builders-responsible-for-defects-could-face-fines/11475970?section=business
#Verve #Construction #Newcastle Significant structural issues have been discovered in Newcastle’s tallest building, “The Verve Residences”. I wonder if the repair work due to recent flooding in the building helped in the discovery of these significant issues. I really hope there is no missing concrete in fire-rated walls. References https://www.newcastleherald.com.au/story/6320725/the-verve-and-the-standards-debate/ BOB THE BUILDER TAKES US […]
#RalanGroup #Employment #Recession It appears that the Ralan Group may have spent the deposits of people who purchased off the plan. References Most off-plan deposits for Ralan units ‘have been spent’ https://www.realestate.com.au/news/most-offplan-deposits-for-ralan-units-have-been-spent/
#RalanGroup #Development #RalanCollapse Sydney Unit Developer Ralan Group has collapsed, entering voluntary administration, with $500 million worth of outstanding debt. With unfinished projects, one has to worry about how this will affect tradies, material suppliers and people who have purchased off the plan. References Major Sydney unit developer The Ralan Group collapses during apartment downturn […]