The marketer of a luxury 40-unit Gold Coast project says it remains on track despite the builder going into administration.
Stokes Wheeler, which has offices in Yeronga and Southport, insolvency-fears/news-story/543677e76ee32f8211bdc12fef2b4017″ title=”www.goldcoastbulletin.com.au” data-tgev=”event119″ data-tgev-container=”bodylink” data-tgev-order=”543677e76ee32f8211bdc12fef2b4017″ data-tgev-label=”business” data-tgev-metric=”ev”>went into voluntary administration on Monday, with Roland Robson and Bill Cotter appointed.
The construction company was five floors into building Elevaire, a nine-storey development by Evoke Property Group.
It began construction in September 2023 and was due for completion at the end of this year.
Nick Clydsdale, director of sales agency SRQ Projects, said Evoke had acted quickly after learning of the Stokes Wheeler administration.
“They have commenced a rapid process to source a new head contractor,” he said.
“Fortunately a number of contractors have reached out to take over the project and the developer is in discussions with a number of builders.
“Things are looking positive that it will be on track and the timeline for completion won’t slip too much.
“Given most of the risk in building is when they’re doing the hole, and that there are five slabs there already, it’s relatively less complicated to have a head contractor come and take over the work.”
The remaining 11 two and three-bedroom apartments, at 1409-1411 Gold Coast Highway,…