QBCC says 39 Gympie, Fraser Coast, Bundaberg homes could be hurt by Privium collapse

The $28 million collapse of Queensland building giant Privium has left dozens of Gympie, Fraser Coast and Bundaberg home owners in the lurch, including one couple who has lost $80k.

The collapse of Queensland building giant Privium has left more than three dozen Wide Bay families potentially hanging in the wind and facing an uncertain future.

The Queensland Building and Construction Commission data has revealed the company was involved in 39 building projects across Gympie, the Fraser Coast and Bundaberg in the past two years.

The watchdog’s records showed 14 Queensland Home Warranty Scheme premiums were taken out by the company for homes in Gympie.

Another 12 were taken out in Hervey Bay, 11 in Bundaberg, and two in Maryborough.

QBCC records do not indicate how many of these homes have been completed, or are yet to start.

Privium owed at least $28 million when it went under in mid-November, 2021.

At least 160 customers are reported to have been left in the lurch.

Privium went under owing at least $28 million. Pics Adam Head

Nikki and Dan Jacobson were one Hervey Bay couple caught out.

They signed with Privium in January but have been left $80,000 out of pocket after builders stopped working on their property.

Three weeks ago they were told by Privium their contract would be transferred to a company called Torison.

But when they contacted Torison “they said they knew nothing about it”.

A QBCC spokesman said the watchdog was meeting daily with Privium’s administrators to ascertain the most current information out of the mess left behind.

Hervey Bay’s Nikki and Dan Jacobson's potential dream home is little more than timber frames following the company’s liquidation.

“We have commenced proactively contacting homeowners who have contracts with Privium to confirm the next available steps regarding their construction project,” he said.

“Homeowners may be able to make a non-completion claim under the Queensland Home Warranty Scheme but must first ensure they validly terminate their contract.

“This is an important legal step, and appropriate legal assistance may be required to ensure it’s done correctly.

“The QHWS is Australia’s only ‘first resort’ insurance scheme, and is designed to protect homeowners in the event of a builder insolvency.”

He urged owners affected by Privium’s liquidation but who had not yet contacted the QBCC to do so.

Originally published as QBCC says 39 Gympie, Fraser Coast, Bundaberg homes could be hurt by Privium collapse