Administrator Deloitte has begun the search for a new owner for Probuild as it looks to restart, where possible, the collapsed building giant’s projects, which include emerging city landmarks such as The Ribbon in Sydney and the new CSL corporate headquarters in central Melbourne.

Activity on Probuild’s 18 projects around the country – worth billions of dollars in completed value – stopped this week when the builder’s South African majority owner Wilson Bayly Holmes-Ovcon (WBHO) pulled the pin on further financial support after deciding the risks involved outweighed any reward.