Probuild collapse: what projects are caught up in the company administration

With up to $5bn worth of projects caught up in the failure of Probuild, here are the largest ones that hang in the balance.

People are seen walking past signage advertising the Ribbon project at Darling Harbour. Picture: NCA NewsWire / Jenny Evans

Many large scale projects across the country have come to a standstill, or allowed only limited staff on site, after national construction firm Probuild called in Deloitte as administrators on Wednesday. Here are some of the biggest jobs liked to Probuild or related entities that await the outcome of what Deloitte hopes will be a quick sale to new owners who will continue with the projects.

West Side Place, $1bn
250 Spencer Street, Melbourne
Billed as Victoria’s largest residential development the Far East Consortium developed $1bn West Side Place complex on the former Age newspaper site and will house 1376 apartments over two towers, as well as the tallest hotel in the southern hemisphere, Melbourne’s first Ritz-Carlton hotel.

Was scheduled for completion in 2022.

Probuild’s UNO project in Melbourne

UNO Melbourne, $400m

The 65-level tower at 111 A’Beckett Street in the CBD will have 630 apartments. Developed by Malaysia’s SP Setia.

The tower was expected to be completed in 2023.

Caulfield Village North 2, $200m

Melbourne’s premiere Build-To-Rent project will have 430 apartments and retail over a number of buildings. It is being developed by US equity giant Blackstone.

$500m tower, Melbourne

In Melbourne’s Docklands, Probuild is building a $500m, 23-storey office tower for Chinese developer Poly Australia at 1000 La Trobe, that will become the Myer office. It was scheduled to finish at the end of 2021.

The 16-storey $300m Elizabeth North Stage 2 developed PDG Corporation which will be the future headquarters of global biotech company CSL Limited. It is due for completion in 2023. CSL also appointed Probuild in December 2020 to carry out the building fit out works. CSL said it will work closely with the partners involved to mitigate against any disruption to the project, which is well advanced.

Sub-contractors were told to pack up their equipment and walk off the 443 Queens Street construction site in Brisbane this week. Picture: NCA NewsWire / Dan Peled

Queensland

Construction started on the $375m 47-storey riverfront apartment tower at 443 Queen St, in the Brisbane CBD in 2018. The Cbus Property developed tower has 264 apartments and was scheduled to be completed by the end of 2022.

New South Wales

The Ribbon: A $1bn accommodation and entertainment complex designed by Hassell on the eastern edge of Darling Harbour in Sydney. It includes the W Sydney hotel across 25 floors and a new IMAX Theatre featuring the world’s biggest screen. The project was close to completion.

The new W Hotel under construction at Darling Harbour. Picture: John Feder/The Australian.

A $170m redevelopment of the former MLC Centre retail and entertainment complex in the heart of Sydney’s CBD at 25 Martin Place, owned by Dexus. Dexus said the major components of the build are complete with handover to most tenants having already occurred. “We are committed to the completion of the development and are progressing a plan to this end.”

Western Australia

The $300m Greater Curtin Stage One Student Accommodation project in Perth. Developed by InfraRed Capital Partners the project will house 1000 new student beds and include 38 apartments and 60 hotel rooms plus retail, office and recreational spaces. It was scheduled for completion in 2021.

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