GCB Constructions boss Trent Clark responds to concerns over his company’s financial viability

The boss of GCB Constructions has given his side as developments worth hundreds of millions of dollars remain idle and subbies remove tools. Read what he said

The boss of GCB Constructions has said his company is “a long-term, viable business”, despite work stalling at development sites along the Gold Coast.

Concerns grew over the financial stability of GCB Constructions this week, as subcontractors downed tools and collected supplies from the sites, saying they hadn’t been paid.

Off-the-plan buyers of more than 500 apartments have been left in limbo across five residential towers GCB was building across the Gold Coast, including a tower in the $200m Vantage project at Benowa; $160m Amaya Broadbeach; Drift Main Beach; $51m Cote Palm Beach; and the $182m Marine Quarter Development in Southport.

The developers of Amaya Broadbeach announced they would take on the build of that $160m tower themselves, forming a company to do it on the same day the Gold Coast Bulletin reported that work had stalled.

The Amaya site in Broadbeach lay dormant May 8, 2023. Picture, John Gass

GCB managing director Trent Clark said his company was engaged under an “early contractor involvement model on the Amaya project to undertake design management, early works and tendering services”.

“We have facilitated an orderly transition to APG as per the terms of our contract,” he said.

“GCB Constructions remains involved in the project as a subcontractor on site as we continue to deliver site management and design co-ordination services.

“As one of the Gold Coast’s leading construction companies, GCB Constructions retains the ongoing support of its developers and funders.

“GCB Constructions is a long-term, viable business, with a solid history of performance in the local construction industry.”

Mr Clark declined to explain why work had stalled on his development sites.

A construction update video for Amaya, published by the developer in March, showed GCB’s site foreman speaking about future works planned by the company.

The video said GCB was preparing to start bulk excavation and that “GCB Constructions are targeting to pour the level-one slab in October this year, with completion slated in 2024”.

Those tasks have now been taken on by the developer.

Developer takes over from GCB Constructions on $160m tower

May 10, 2023: Developers of a $160m tower have announced plans to build the project themselves as questions remain over the future of a major Gold Coast building company.

Concerns remain over the financial stability of GCB Constructions, as work stopped on developments across the state.

Subcontractors say they haven’t been paid and many have spent this week removing their tools and supplies from GCB sites.

As of Wednesday afternoon, GCB had not been placed into administration.

Off-the-plan buyers of more than 500 apartments have been left in limbo across five residential towers GCB was building across the Gold Coast, including the fifth tower in the $200m Vantage project at Benowa; $160m Amaya Broadbeach; Drift Main Beach; $51m Cote Palm Beach; and the $182m Marine Quarter Development in Southport.

Amalgamated Property Group and Base Developments, run by Canberrans Graham Potts and Dennis Milin, said they had formed their own construction company to complete Amaya at Broadbeach.

An artist’s impression of Amaya Broadbeach.

In a statement, the developers said GCB had been contracted for “early works” which had “been completed on schedule”.

A construction update posted to the developers’ social media channels in March said GCB was preparing to start the bulk excavation and that “GCB Constructions are targeting to pour the level-one slab in October this year”.

Company records show Capital Constructions Queensland was registered as a company on Tuesday, with Mr Potts and Mr Milin as directors.

The company does not yet hold a Queensland builder licence, but expected its application would be granted “within the next two weeks”.

The Amaya construction site was idle on Monday May 8, 2023. Picture: John Gass

The developers said work would resume onsite with project manager Eastview continuing its project management and G & H conducting the bulk excavation.

“GCB and Amalgamated have maintained a good working relationship since the beginning of their interactions,” the statement said.

The developers, who just settled on a 2424sq m development site at 40-46 Chelsea Ave Broadbeach, said Capital Constructions Queensland would build all their projects going forward.

“Due to the acquisition of Chelsea Ave, the increased turnover made sense for us to complete Amaya and run the same team straight into Chelsea Ave,” they said.

“Timing is related to sequencing of construction activity and works with Wagstaff completing the d-wall and the certification of this stage of works.

“This second acquisition came earlier than expected and spurred the plan into motion.”

An artist’s impression of Amaya Broadbeach.

Mr Milin is also founder of Canberra construction company, Milin Builders.

The Bulletin has reported on the company’s troubles since January, when it was revealed it was being sued by a subsidiary of Buildcap, developer of the Marine Quarter towers at Southport, after a disagreement over costs and the project’s timeline.

That case has since settled.

GCB is also battling a second developer after walking off the site of a $196 million project in Brisbane.

The Gold Coast Bulletin has contacted GCB managing director Trent Clark for comment.

Originally published as GCB Constructions boss Trent Clark responds to concerns over his company’s financial viability