Building begins again at former U2 site

ABOUT 18 months after builders were pulled off a projected $60 million CBD apartment tower following mounting unpaid wages and million dollar debts, work has finally recommenced under a new ownership

ABOUT 18 months after builders were pulled off a projected $60 million CBD apartment tower following mounting unpaid wages and million dollar debts, work has finally recommenced under a new ownership.

The former U2 site on Waymouth St which was to host a 25 storey building before the chairman of its developer Datong fled to China to allegedly escape creditors, has been rebadged under new owners with work beginning about 10 days ago.

Wingfold Tower will be a 25 level development say builders, Builder Environs, and will incorporate many aspirational features including a fitness studio, sauna, spas, outdoor lounge with BBQ facilities and ground floor restaurant and retail.

Built Environs managing director, Daryl Young, said he was excited to build this tower for owners Wingfold Holdings.

“Securing the Wingfold Tower project is an important achievement for our business and provides a great opportunity to partner with Wingfold Holdings to deliver a significant development,’ he said.

The North Adelaide registered outfit is owned equally by Hui Kong and Hui Fai from Modbury Heights with Adelaide accountant Tony Zhao, listed as a director.

Wingfold did not respond to the Advertiser’s request for information on the new owners and project.

Completion is expected next year Built Environs said.