The directors of Pindan Group have told staff the company had little choice but to appoint external administrators amid revelations of more than $48 million in losses.
Pindan Group's assets could soon be on the market as administrators EY trawl through the remnants of the construction group, with 500 subcontractors expected to be affected.
Former Pindan Group director Nicholas Allingame has launched a multi-million dollar lawsuit against the property giant, as subcontractors walk off their jobs amid rumours about the company's future.
Construction company Pindan Contracting is suing one of its subcontractors for allegedly failing to complete work as part of a $90 million contract it held with Rio Tinto.
With property groups increasingly understanding the potential of heritage assets, Business News explores some of the state's prominent heritage redevelopments and those in the pipeline.
Our weekly appointments wrap includes Rebecca Adam, Jennifer McGrath, Samantha Maddern, Tom Tolchard, Sharon Fox-Slater, Anthony Boyd, Rod Fehring, Antony Beckmand, Robert Mencel, Grant Dyker, Jeremy Sinclair and Nick Cater.
One of WA's largest construction groups has avoided a dispute over allegedly defective building work after arguing the work was undertaken by an entity in liquidation.
Aged care and retirement living service providers are pushing ahead with property developments, but say COVID-19 could have a lasting impact on the sector.
Major commercial construction jobs have been derailed by the novel coronavirus crisis, with neither the public nor the private sector stepping up to provide certainty for contractors.
Work has begun on a Fremantle apartments project that promises to enliven the port city's east end, while a $6.8 million redevelopment of Beechboro's Altone Park Shopping Centre has also kicked off.
Construction will start within weeks at Iris Residential's $50 million One Mabel Park boutique apartments complex in Jolimont, with Pindan appointed to carry out the works.
Developers have made progress on a pair of near-city apartment projects, with construction starting on a $15.5 million complex in Highgate by Momentum Wealth, while Willing Property has secured approval for its Clifton & Central project in Mount Lawley.
Building firms ADCO Constructions and Pindan have secured a pair of contracts collectively worth around $24 million, with ADCO to expand Osborne Park Hospital and Pindan to build a new community centre in Kalamunda.
Pindan will undertake property and maintenance services for Yara Australia in the Pilbara for the next five years, under a contract worth $7.5 million.
Subiaco's apartments market is running hot, with Blackburne racking up rapid sales success at its $280 million One Subiaco development and boutique developer Celtic Properties launching an 82-dwelling development on Roydhouse Street.
Pindan has been awarded a $90 million contract for the construction of an operations village for Rio Tinto's Koodaideri iron ore project, with the announcement coming less than a week after Oxley Holdings acquired full ownership of the contractor.
SPECIAL REPORT: Western Australia's record housing downturn has shaken up the hierarchy of the state's biggest builders, with ABN Group now topping the list and two new entrants making their way into the market's top five since industry activity peaked midway through the decade.
Singaporean development group Oxley Holdings has moved to full ownership of Pindan for zero cost, after cancelling around $24 million in debt while also disclosing that the local contractor had failed to meet performance targets.
International hotel group Hilton has chosen Albany to open its first Hilton Garden Inn in Australia, with construction starting on a five-storey, 108-room waterfront hotel this week.
Aged care group Rosewood has appointed Pindan for its latest build, a $70 million facility to be built on Cleaver Street in West Perth that will include a restoration of the heritage-listed Florence Hummerston Lodge.
Georgiou Group has been awarded a $42 million contract to build new facilities at Hollywood Private Hospital while Pindan has been appointed as builder for a housing project in Manjimup.
Perth-based digital agency Firefly360 has boosted staff numbers in preparation for an increase in work next year, adding three experienced members to its team.
Pindan has secured a state government contract as part of a project to build a new headquarters for the WA branch of the Returned and Services League on St Georges Terrace.
Four of the largest construction contractors in WA - unlisted companies Pindan, Georgiou Group, Doric/Jaxon and Perkins Builders - have achieved strong earnings and anticipate better conditions ahead.
