A well-known development figure in southeast Queensland, who has worked on projects from the Sunshine Coast to the Gold Coast, has placed his own company into voluntary administration.
Australian Securities and Investments Commission documents show administrator Dane Hammond was appointed to the company on April 10, 2024.
According to the documents the company, Coastal S/C Pty Ltd, previously traded as Nancarrow Property Group Pty Ltd and was the parent company to the businesses, NPG Constructions and NPG Project Management from 2017 to 2020.
ASIC reports show Carl Matthew Nancarrow is the director of the Noosa-based Coast S/C Pty Ltd, having been appointed to the role in 2006.
Mr Nancarrow is listed in the documents as the main creditor, owed an estimated $436,000.
The Australian Taxation Office is the other listed creditor and is owed a debt of approximately $170,000 as of April 10.
In documents provided to ASIC, Mr Nancarrow states “all assets have been sold” and the debt involves personal loans and tax.
An estimated $23,133 from a vendor finance arrangement is owed to the company, according to the ASIC documents.
Mr Nancarrow currently works as the head of group investment and property development for construction…