Gold Coast builder Preferred Homes in voluntary liquidation

A Gold Coast building company that marketed “dream homes” to first home buyers and people living with disability has gone into liquidation. Read the details

A Gold Coast building company that marketed “dream homes” to first home buyers and people living with disability has gone into liquidation.

Preferred Homes was registered in Maudsland but operated from 50 Cavill Ave in Surfers Paradise.

Its builder licence was cancelled on June 4, after it failed to submit to an audit by the building regulator, a month after it was suspended for non payment of debts.

It wasn’t the first time it found itself on the wrong side of the QBCC – Preferred Homes had been issued three direction orders for defective structural work, and complied with none of them. It was slapped with a fine and demerit points.

The company’s directors are Burleigh Waters man Benjamin Burns, 36, and 45-year-old Marcus Charleston of Labrador.

Marcus Charleston.

Ben Burns.

The company’s website said Preferred Homes was “founded to disrupt the industry”.

“To help make Brisbane and Gold Coast custom home designs more accessible to first home buyers and investors,” it said.

“To offer value by passing along the industry savings to reduce massive overheads.”

ASIC records show the company appointed a restructuring practitioner in May, after directors decided it was unable to pay its debts, including an amount to the ATO.

But the restructuring process was terminated in June after the administrators believed it did not meet the eligibility criteria for restructuring.

Liquidator Nick Combis of Vincents was appointed on August 23.

Gold Coast builder Preferred Homes is in liquidation.

A statement from Vincents said the business ceased trading prior to liquidation and declined to give any estimate of its debts.

“We are currently reviewing the financial position of the company to assess the options available to preserve and maximise the value of the assets (if any) for the benefit of all stakeholders,” the statement said.

“We will be engaging with stakeholders in the near future to determine the position going forward.”

The Gold Coast Bulletin has contacted both directors for comment.

The licence record shows a sharp increase in work – from three jobs totalling $1.04 million in 2018-19 up to 15 for $5.7 million in 2020-21 – but by 2022-23 it was down to one job worth $336,980.