Gold Coast GCB Constructions in administration after licence suspended, projects halted

A major Gold Coast building company has collapsed into administration, leaving staff out of work, construction of more than 500 apartments in limbo and untold debts to suppliers and subcontractors.

Embattled Gold Coast building company GCB Constructions has collapsed into administration, leaving construction of more than 500 apartments in limbo and untold debts to suppliers and subcontractors.

Staff of the Varsity Lakes based company, which also has premises in Lismore, were told of the administration and terminated Wednesday afternoon.

Administrators David Stimpson and Adam Kersey of SV Partners have been appointed to pick through the finances of the company, which is subject to multiple court actions for alleged unpaid debts, including a wind-up application.

GCB Constructions Vantage View apartments at Benowa. Picture: David Clark

The crash comes the day after Queensland Building and Construction Commission suspended its licence for “failure to pay debts”, meaning work on all its current projects must cease.

Sole director Trent Clark had earlier this month said he was “determined and confident” of overcoming financial struggles which saw work slow to a trickle or completely stop at sites along the east coast since May 8.

The Bulletin’s attempts to contact Mr Clark have this week proven unsuccessful.

An initial report to creditors will be issued on Friday, while a meeting of creditors will be held on August 7.

Mr Stimpson said a deed of company arrangement would be considered.

“We have terminated the staff, work has ceased on all the sites, which was pretty much inevitable given the licence suspension yesterday,” he said.

“We are hoping to transfer some of the projects, those that essentially have profit and will provide a return.

“We’re working to secure the sites and ensuring the company’s assets are secure is a priority.”

Mr Stimpson said GCB had property assets and was owed substantial amounts of money he hoped could be secured for creditors.

GCB Constructions director Trent Clark.

Shares in GCB are jointly held by his company Trent Clark Properties and another company Amtre, which is directed and held by his father Greg Clark, who founded Greg Clark Building in Lismore in 1981.

GCB was working on the fifth tower in the $200m Vantage project at Benowa; $51m Cote Palm Beach; Si Bilinga and the $182m Marine Quarter Development, at the northern end of Southport’s Broadwater Parklands.

A company related to GCB has a 20 per cent stake in the Marine Quarter Development.

GCB was also contracted to build Amaya Broadbeach, but the project’s developers announced they would take on the build of that $160m tower themselves.

GCB had started construction of Drift Main Beach, which was supposed to reach 30 levels and include 46 apartments, however a nasty stoush with developer GDI Group left that project stalled and both parties in court.

The project is still being advertised as “under construction”.

Dean Gallagher of GDI Group, the Drift Main Beach site and Trent Clark of GCB Constructions.

The company is also in court with the developer of the $196m Ascot Aurora project in Brisbane, with GCB claiming it is owed about $10m by developer Poly Group.

The developer has lodged a defence and counterclaim in that case.

The company also has projects under way in NSW, where it held an unrestricted licence and where work stopped in October on a retirement unit complex.

The Gold Coast Bulletin has seen an email from GCB to a subcontractor last week, asking for a quote and confirming it was preparing a tender for work at a school in Lismore.

In January, it was revealed GCB was being sued by a subsidiary of Buildcap, developer of the Marine Quarter towers, after a disagreement over costs and the project’s timeline. That case has since settled.

John Goddard, of subcontractor support group Subbies United, said subbies were frustrated the QBCC did not act on GCB’s licence earlier.

“The QBCC needs to take stock of information available to the public in general, ie, numerous detailed media reports, court actions and developers taking over projects, rather than simply doing nothing and relying on monies owed complaints to be made,” he said.

“QBCC monies owed complaints are also at the mercy of the builder challenging it and if they do, then the QBCC wash their hands of it.”

Creditors of GCB Constructions SV Partners office on [phone] or by email at

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Originally published as Gold Coast GCB Constructions in administration after licence suspended, projects halted