Condev Construction

Condev, which was founded in 2002 and last year reported a loss, currently has 18 projects under construction in south-east Queensland, with 14 on the Gold Coast. It has won numerous awards and was involved in construction of much of the 2018 Commonwealth ...

We’ve spoken to all of our developers that have had queries all through the night last night and this morning and now tonight. Editor's note: In a statement released on Tuesday evening, Condev executive chairman Steve Marais confirmed plans were being finalised to appoint a liquidator. "We're not asking them to save Condev as media reports are suggesting. “Many of these developers we’ve done multiple projects for and we have developed wonderful friendships. They weren’t in September and October 2020.” We just don’t want to kick the can down the road. All we’ve done is put a proposal in place that we believe is the best outcome for them that makes everything achievable. “That’s really what the trigger was. “We’re not acting because we have concerns about today and tomorrow. “We’ve already lost what we’ve lost but we wanted the people in that room to realise the costs that we've absorbed to date. “So, there has to be a recalibration of what the builder is expected to tolerate in the context of both the contract and pricing. “There were a lot of questions from the people in the room—the ones being asked to adjust contracts and contribute to the cost of construction—about what the risks are going foward, what’s the next swarm of locusts that’s going to fly across the construction industry.

The company currently has 13 projects under construction across southeast Queensland worth $500 million, including six developments on the Gold Coast. Condev ...

“We wish you all the very best. We love you guys. “It is with the heaviest heart that we advise that we have not been able to achieve the outcome from yesterday’s meeting with developers that we’d hoped and the decision to proceed to the liquidation of Condev Construction is now a matter of course.

Building company Condev Constructions has gone into liquidation after a failed bailout deal. It is the second Australian construction giant to collapse in ...

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Queensland construction giant Condev will call in liquidators after failing to get the support of developers for a $25 million rescue plan.

Condev Construction has become the latest casualty in the flailing construction industry, following a string of high-profile collapses.

“We just need a quick resolution so that other builders can take over the jobs. They’ve just gone in too keen [underpriced] on some jobs and it hasn’t worked out,” they said. The contractor added that “it could be the tip of the iceberg as far as the way the industry is going”. However, there appears to be less bad blood over the liquidation of Condev. A lawyer representing the owners described the situation as “extremely stressful for Steve and Tracy who are highly regarded in the industry and the Gold Coast community as tier one corporate citizens”. Condev founders Steve and Tracey Marais said in a statement they were “absolutely devastated for the Condev family of employees, our tradespeople and our affiliates”. When a construction company collapses, Coghlan continued, it sends “ripples up and down the supply chain” of the deeply connected industry.

Australian construction firm, Condev will go into liquidation after failing to secure a reported bid for $25 million from developers. The Gold Coast-based builder announced Tuesday a liquidator was being sought to take over its affairs.

"We need a quick resolution so other builders can take over the jobs. They've just gone in too keen, underpriced on some jobs and it hasn't worked out," they said. "They've always been very good to all the subcontractors and always paid exactly on time," he said. They added, "it could be the tip of the iceberg as far as the way the industry is going". "It is with the heaviest heart that we advise that we have not been able to achieve the outcome from [Monday's] meeting with developers that we'd hoped and the decision to proceed to the liquidation of Condev Construction is now a matter of course," they said. They said yesterday they were "absolutely devastated for the Condev family of employees, our tradespeople and our affiliates".