Oracle Building Corp leaves subbies waiting for payment

The embattled building giant, which wanted thousands of dollars extra from clients to complete their homes, has told subbies they will not be getting paid ‘today’.

An Oracle Platinum Homes in Woodhill

One of Queensland’s largest builders has told subbies it can’t pay them until it receives additional funds into its bank account.

Underwood-based Oracle Building Corp – which trades under a number of names including Oracle Platinum Homes – made headlines earlier this year when it sought tens of thousands of extra dollars from clients to complete their homes amid the deepening financial crisis in the construction sector.

Clients continue to complain about lengthy delays, some of up to a year, to complete new homes.

Oracle director Tom Orel wrote to tradespeople on Friday that the company was “still waiting for a number of external settlements which have not occurred and we regret to inform you that there will be no payments made today.”

“I reiterate and say all payments have been administered on our end and are ready to go,” Mr Orel wrote in the email.

“As soon as the funds hit our account the payments will be processed. Thank you again for your support as we navigate these times and we will continue to keep you updated of any changes.” 

Disgruntled Oracle clients told News Corp in April that they were being asked to pay cost variations of up to $122,000 before they can move into their homes, sparking a warning from the building watchdog to seek legal advice before paying any extra money.

Mr Orel said the increase was due to the “ongoing ripple effects” of the pandemic causing supply shortage for the entire construction industry. 

The company is believed to be working on 300 new homes across Queensland with about half facing price increases. 

The construction industry is facing unprecedented pressure following big hikes in material costs due to Covid-19 pandemic lockdowns and recent floods. Oracle clients were told this week that the company was still “awaiting confirmation dates from trades and suppliers. Please note, dates are always subject to change dependent on weather and the availability of trades and materials.” 

The company has been contacted for comment.