Freelife Homes was a real estate developer in Western Australia. It was a division of Capital Works Construction, a company which along with related firm Capital Construction Hire was placed into voluntary administration in May 2015, and appointed liquidators in June 2015.
Home building companies Freelife Homes and Visionaire Homes, both divisions of Capital Works Constructions, have been placed into voluntarily administration, leaving more than 300 customers unsure whether their homes will be built.
Builders have been invited to bid for the upcoming and current work of collapsed home builder Capital Works Constructions, in the wake of the company calling in administrators last week.
Complaints against builder Capital Works Constructions, which collapsed this month owing $8.5 million, date back to at least 2013, with the first of dozens of formal grievances lodged with the industry watchdog in that year.
Western Australia’s housing indemnity insurance scheme has been exposed by the collapse of two Perth-based builders, with the state government facing a $12 million cost and a rise in building insurance premiums expected as a result.
Administrators at Deloitte say collapsed builder Capital Works Constructions may have been trading insolvent from at least June 30 last year, while it had not been paying trades and suppliers on time as far back as October 2013.
Contractor Central Systems, which is best known for its civil construction works, has taken on the work in progress of collapsed builder Capital Works Constructions.
Building Commission head Peter Gow has called for more checks and balances in Western Australia’s housing construction sector to ensure there is no repeat of the collapse of Capital Works Constructions.
City of Cockburn residents who had signed up with Freelife Homes say they’re unable to get a new builder to resume construction of their houses, because the council is holding back new building permits.
New home buyers are set to wear the costs stemming from the collapse of three Perth-based builders, including Gage Roads Construction and Capital Works Constructions.
Challenging conditions loom for homebuilders in WA, as demand for new housing slows after record-breaking peaks of activity last year.
Liquidators have been called in to recover what they can from the assets of Scho Homes, with the builder’s collapse expected to put more pressure on Western Australia’s homebuilding insurance scheme.
One of state’s biggest residential construction firms, Builton Group, has succumbed to the financial stresses engulfing the sector, appointing an external administrator earlier today after reports of the company’s financial troubles emerged last week.
The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.
Resource Development Group is continuing its push into residential construction, winning a $27 million contract to build a 24-townhouse project just south of Fremantle’s South Beach, on an apartments site abandoned by Stockland following the GFC.
