Fortunately the Not For Profit’s only contract with the family-run Gold Coast building business is the new retirement village on the Far North Coast of NSW.
GCB Constructions has contractual obligations to Uniting NSW.ACT. It appointed administrators SV Partners David Stimpson and Adam Kersey last Wednesday. Unfortunately, Uniting expects this may take some time to resolve.
“We are also working with the local sub-contractors affected by GCB Constructions’ situation,” said a Uniting spokesperson.
“In the meantime, Uniting is already exploring the available options to engage a new builder. We hope to have appointed the new builder and commenced work by the end of the year, with the aim of completing the apartments by late 2024.
Uniting Yamba independent living retirement village will have 34 villas and 50 apartments, with the three-bedroom apartments sold before the work stopped.
The SOURCE: The collapse of GCB Constructions and WA company Modco Residential will shock any retirement living operator thinking of spending millions on a new development.
