More than $800m is owed by the flailing developer of a mammoth Gold Coast residential tower, according to documents lodged with ASIC.
Bensons Property Group went into voluntary administration in December, with managing director and CEO Rick Curtis vowing it wouldn’t stop progress on the company’s $1.5bn in projects.
Bensons is currently developing the $485m, 41-storey Chevron One at Surfers Paradise as well as 740 apartments across Melbourne’s suburbs, which have a collective value of $452m on completion.
The developer’s last construction update for the Chevron One project was in May last year and it was initially slated for completion in late 2025.
The build is currently up to the 24th floor.
Gold Coast couple Michael and Poppy King purchased their apartment on the 23rd floor more than three years ago, hoping to spend their retirement in the Surfers Paradise enclave.
“I’m not too sure what’s going on,” Ms King, 61, said.
“My husband and I are a bit concerned, we’ve been waiting all these years – I was one of the first to buy into it.”
Ms King said the sales agent she bought the apartment from had sent a text message last week, saying the project was still on track and it was “business as usual”.
A report…