Veteran developer’s fears for construction industry

Veteran Brisbane developer Kevin Seymour says the construction industry is “in complete turmoil”, with more builders expected to hit the wall before prices peak.

Veteran Queensland developer Kevin Seymour. Picture: Liam Kidston

Veteran Brisbane developer Kevin Seymour fears for the future of construction, expecting more builders to hit the wall before prices peak.

Mr Seymour, who is mentoring three of his grandchildren as they “cut their teeth on their first development” – The Oxlade, due for completion third quarter this year – feared continued industry headwinds would push more “good contractors” to the wall.

“The construction industry is currently in complete turmoil,” he said.

“The headwinds facing the building industry are a skill shortage of labour needed for these projects along with a shortage of materials and escalating costs which certainly have not yet reached their peak.

“This has resulted in delays in contractors meeting their construction deadlines and I might add, through no fault of their own, and I feel sad that many of our good contractors and sub contractors have found the going very tough having entered into fixed price contracts some years ago.”

Mr Seymour said “I think we all have to acknowledge that there probably will be more corporate failures in the building industry and this too makes me very sad as the industry has a workforce of hardworking high achievers who have been devastated by costs that they cannot control”.

He said the fact that more people wanted to gain a university degree than a trade apprenticeship was contributed towards the problem.

“I worry for the future of construction going forward as I can’t see a resolution to these huge challenges in the short-term.”

Kevin Seymour who's currently mentoring his grandkids through their first development The Oxlade, Brisbane. Picture: Liam Kidston

Mr Seymour said “hopefully barring no further unfortunate delays”, The Oxlade would be settling in Q3, 2023.

“Having the three grandchildren, Kate, Trent and Ben cutting their teeth on this first project gives me a tremendous boost to know that they are showing the ability to undertake a project of this size and complexity as their first venture,” he said.

“I’ve always said rather than leave money in my will, I have a great wish to see my grandchildren show their ability while I can guide them and prove to me that they have the desire to complete successful projects and follow in their granddad’s footsteps.”

He was “extremely pleased with their achievements at The Oxlade as I’m sure the purchasers will be when they move in”.

Mr Seymour said the development “would not be possible without BESIX Watpac and their construction team”.

“It’s fair to say they are in the top echelon of builders who have the ability to construct the highest quality product in the market place,” he said.

The Oxlade was “a great collaboration between bureau^proberts, the architect, BESIX Watpac the builder, and the members of our family and staff”.

“It was always intended that The Oxlade set a new standard for Brisbane of quality and design with a magnificent infinity edge pool on the roof overlooking an amazing city skyline with all the bells and whistles you would expect with a quality development such as wine rooms and function areas adjoining the pool.

“The two buildings being set around a water mall providing a very calming influence for the entire development and these are just a few of the features that are provided for this luxury apartment building so close to the city.”

He found the car parking component of the building “quite remarkable as most owners have at least three car spaces and some having as many as seven car spaces”.

“I regard it as an architectural masterpiece by bureau^proberts and it cements the fact that their firm is one of the state’s leading architectural firms becoming well entrenched in producing developments of unique design and practicality,” he said.

Mr Seymour said credit was also due to Belinda Amble for the success of The Oxlade: “Our project manager has worked extremely hard to get this project delivered in the face of adversity the likes of which we’ve never experienced before in the building industry. Belinda is doing an outstanding job.”

Originally published as Veteran developer’s fears for construction industry