Stalwart Property Services Pty Ltd to restructure

A Sunshine Coast building company has sought help as a business expert predicts more pain is on the way for the local construction industry.

The construction industry is predicted to have another challenging year on the Sunshine Coast. Photo:Warren Lynam / Sunshine Coast Daily

A Sunshine Coast building and renovation company has sought to restructure as an insolvency expert predicts there is more pain on the way for the local construction industry.

According to Australian Securities and Investments Commission documents, Stalwart Property Services Pty Ltd appointed Jarvis Archer to restructure the Corbould Park-based company on Thursday, January 16.

ASIC documents show the company is directed by Sunshine Coast man Floyd Franklin who has acted in the role since January 2020.

The company was first registered in Victoria in 2018, and has operated under four business MIH Property Services, Vic Metro Property Services, Oceanside Projects Renovations Extensions and Custom Builds, and Oceanside Projects.

Oceanside Projects operates from Corbould Park on the Sunshine Coast.

Liquidator at Worrells, Paul Nogueira, said he predicted 2025 to be challenging year for local builders, despite the improvement seen in other industries.

“While there are positive indicators, such as stabilising inflation, possible interest rate cuts, and strong rebounds in both the tourism sector and consumer spending, these are unlikely to fully offset pressures on businesses operating on tight margins or with high debt levels,” Mr Nogueira said.

“Tourism-related industries, particularly hospitality and retail, are benefiting from strong visitor numbers. However, the recovery remains uneven, with sectors like building and construction continuing to face significant challenges.

“We anticipate insolvency numbers will remain elevated throughout 2025, especially for businesses struggling with legacy debt, high operating costs, reduced consumer spending, and aggressive debt recovery actions by the ATO.”

Insolvency expert Paul Nogueira has warned local builders to keep on top of cash flow in 2025. Photo: Brett Wortman / Sunshine Coast Daily

Mr Nogueira said increasing costs of materials would continue to be a major challenge for local business owners, but suggested seeking help from a restructuring practitioner as soon as possible if there were signs of financial distress.

“Maintaining close oversight of cash flow and updating budgets to adapt to economic shifts is crucial for navigating the current market,” Mr Nogueira said.

Mr Archer and Stalwart Property Services have both been contacted by this publication for comment.