Floods stymie efforts to restart Probuild’s Queen St project

Probuild has retained its building licence in Queensland but neighbours are complaining about noise at its Queen St project as administrators prepare the company for sale.

Tradies leaving the 443 Queen St project last week ahead of Probuild’s parent company calling in voluntary administrators. Picture: NCA NewsWire / Dan Peled

Failed building giant Probuild retains a building licence in Queensland for now, leaving the door open for the company’s administrator Deloitte to restart work on the troubled 443 Queen St project.

The Queensland Building and Construction Commission (QBCC) usually starts the process of cancelling a company’s building licence once a company has entered administration or liquidation.

But under the law, there is a 28-day grace period where a builder can show they are financially capable of continuing to work under their current licence.

Deloitte has indicated it wants to keep the company operating as a going concern while it seeks a buyer of the business. That includes continuing work on the company’s unfinished projects around Australia, including the 47-level 443 Queen St apartment tower project.

City Beat hears administrators Deloitte have told the remaining workers on the site that they have to clean and pump out the car parks so it can look presentable for sale. But our spies tell us there have been delays as rain continues to fall and local residents object to the noise of the pumps.

Probuild has plunged into administration with over $5 billion in building projects around Australia now under a cloud.

The Queen St project has been a nightmare for Probuild, with losses reportedly topping $100m, and is already two years overdue.

Creditors are due to meet Friday to discuss the future of the company. Subbies United spokesman John Goddard says there is growing scepticism about whether anyone would be willing to step up as a buyer.

“They were undercutting on projects so anyone taking on the company would have to deal with that,” Goddard says. “I can’t see anyone wanting to do it.”

Goddard says he knows of subbies owed up to a quarter of a million dollars on Probuild projects. Deloitte placed ads in the national press over the weekend offering the company for sale and describing it as a “unique opportunity to secure a leading civil construction firm.”

ROCK RULES

Marcus Walkom’s dreams of being a famous rock guitarist in the mold of Noel Gallagher didn’t quite go to plan.

But the lawyer turned his passion for music into a successful career representing bands and other entertainers in an industry undergoing huge changes due to the rise of music streaming and social media.

Walkom will soon be hanging out his shingle in Brisbane as the Queensland-based partner of national boutique law firm Media Arts Lawyers.

“I am a bit of a failed musician and was in a couple of Brit-pop bands in my youth,” Walkom tells your diarist. ”I studied law and then was fortunate enough to get into entertainment law.”

Amy Shark performs solo at the Darwin Waterfront.

Walkom says that Brisbane - with its vibrant music and creative industries scene - was an obvious next choice for the firm to establish a physical presence. “Brisbane has until more recently been overshadowed by its eastern seaboard counterparts Sydney and Melbourne,” says Walkom.

“However, there is growing recognition of the city – together with Queensland more broadly and Northern NSW - as a creative and cultural hub.”

Walkom, who is currently based in Melbourne with the firm, says the rise of social media and streaming had given more power to individual artists over the traditional studio system.

Walkom, whose firm has represented clients including Drake, Victoria Beckham, Amy Shark and Courtney Barnett, will move from Melbourne to take up the role in April, with the new office based in the Valley. As well as some of the best known bands in Australia, Walkom says he also has represented TikTok stars.