The award-winning developer went into administration in May leaving 10 projects in limbo.
A class action has commenced against one of Western Australia’s biggest home builders after its customers were left waiting two to three years for their homes to be completed. Picture: istock
A major developer which built apartments for John Singleton and supermarkets for Woolworths has been placed into liquidation less than two months after it collapsed.
NSW Central Coast-based builder Stevens Construction was established in 2006 but went into voluntary administration in May, leaving 10 projects in limbo.
In a press release published on its website at the time, Stevens Construction described itself as a “longstanding pillar in the NSW commercial construction industry”.
It said, however, skyrocketing costs had made “continued operations unsustainable”.
Stevens Construction has gone into liquidation. Picture: Stevens Construction
“The construction industry has faced significant challenges since the onset of the COVID-19 pandemic,” the statement read.
“Unprecedented disruptions have led to skyrocketing building costs, reduced productivity, and critical shortages of materials and skilled labour.
“These factors have collectively placed immense pressure on Stevens Construction, making continued operations unsustainable.”
On Friday, administrators published a notice to the ASIC website confirming the company was in liquidation and calling for creditors to lodge their claims by August 5.
The $35m Bonython Tower project won an award for excellence. Picture: Supplied
Stevens Construction won the Newcastle Master Builders Association Commercial Builder of the Year award in 2019 and has worked on major retail, industrial and residential projects.
It built a $27m shopping centre in Crows Nest, Sydney on Sydney’s Lower North Shore and two apartment blocks for the John Singleton Group.
They included the $35m Bonython Tower in Gosford, featuring 56 apartments.
“Once a glimmer in John Singleton’s eye, now a magnificent jewel bedazzling the city of Gosford – Bonython Tower marks the beginning of The Central Coast boom,” the company said on its website.
“I want as many people as possible to live the dream of owning the best units or office space in the best location, in the heart of the Gosford CBD,” Mr. Singleton added.
Prominent businessman John Singleton. Picture: David Swift
Stevens Construction lists car showrooms, golf clubs, child care centres, aged care facilities, shopping malls and fast food outlets for McDonalds and KFC among its projects.
It also names Coles, Aldo, IGA, Dan Murphy’s, Mobil, Shell, BP, Caltex and the NSW government among its past clients.
ASIC data shows about 2,500 construction companies collapsed in the last financial year, up 34 percent from the previous one, according to the .