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Deloitte seeks owner for collapsed Probuild

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.

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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
Martin Kelly is a property reporter based in Sydney covering all aspects of commercial and residential real estate including major deals, market trends and developments. Email Martin at martinkelly@afr.com

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    Original URL: https://www.afr.com/property/commercial/deloitte-seeks-new-owner-for-collapsed-builder-probuild-20220224-p59z99