Bensons Property Group Pty (BPG) announced yesterday that it had made the “difficult decision” to appoint Craig Shepard and Sebastian Ham of Korda Mentha as voluntary administrators.
The company cited challenging conditions in the construction and property development sector, noting that the industry had faced “an extremely difficult time, particularly post-COVID”.
BPG was founded in 1994, by philanthropist and self-made developer Elias Jreissati.
The company focuses on building large and luxurious apartment blocks in Victoria, Queensland and Tasmania.
“This Australian family business has a 25-year track record in delivering luxury beyond the expected,” the website says.
“During that time, every project taken to market has been completed, resulting in over $2 billion of iconic residential property.”
One of those projects includes a 41-residential tower on Chevron Island, which is expected to be completed late…