Brisbane, Gold Coast builder Stokes Wheeler in administration amid insolvency fears

A long-running major builder with 40 staff and projects across South-East Queensland is facing insolvency, with voluntary administrators appointed to save it from collapse. Here’s what we know.

A long-running major builder with 40 staff and projects across South-East Queensland is facing insolvency, with voluntary administrators appointed to save it from collapse.

Stokes Wheeler, which has offices in Yeronga and Southport, went into administration on Monday morning, with Roland Robson and Bill Cotter appointed.

Stokes Wheeler is directed by Damien Stokes and John Wheeler, who each have more than 30 years experience in the building industry.

Current projects include Evoke Property’s 40-apartment project Elevaire at Palm Beach.

Mr Cotter said the company’s directors had called in administrators after realising they would not be able to meet the financial requirements of their building licence.

Work has stopped on four projects under construction.

“We are running the numbers and securing things while we work out what’s what,” Mr Cotter said.

“We have immediately ceased operations. The directors have taken this very difficult step.

“Some of the staff have been here for 20-plus years – it’s rare that I’ve seen so much love for a boss in these circumstances.”

Damien Stokes of Stokes Wheeler.

John Wheeler of Stokes Wheeler.

Mr Cotter said it was too early to know how much money was owed to creditors, including staff and subcontractors and that the directors were hoping to establish a deed of company arrangement to save the company.

“We’re envisioning that it’s not going to be a liquidation scenario,” Mr Cotter said.

The company’s Gold Coast past projects have included The Jefferson at Palm Beach the Anchorage Apartments at Hope Island, Brooklyn Apartments at Varsity Lakes, Neo Apartments at Mermaid Beach and Sur at Kirra, which boasts a two-level penthouse marketed as “a postcard for Gold Coast tourism”.

It has also worked on multiple car dealerships, schools, churches, aged care facilities and pubs in Brisbane and on the Gold Coast.

The company’s social media accounts had been deactivated Monday.

Stokes Wheeler is in voluntary administration

According to QBCC records, the company is licensed for annual maximum revenue of $60m-$120m, but only recorded two residential jobs worth $1.3m in 2023-24.

Its 2022-23 work is not logged on its licence, but it had 39 jobs worth $12.6m in 2021-22.

The Gold Coast Bulletin has contacted the company for comment.

According to the company’s website, it was established in 1928 as W.H.Stokes & Sons, with “good friends Damien and John” creating a “kindred partnership” in 1998 to form the present day business.

“Together they have strived to foster a company of excellent individuals into a team of excellence that is a leader in their market place,” it said.

It comes as construction again takes the unenviable position topping the number of insolvencies for Gold Coast companies in 2024.

Originally published as Brisbane, Gold Coast builder Stokes Wheeler in administration amid insolvency fears