A developer duo on the Gold Coast have launched their own construction company to insulate against the volatility of the building sector while delivering their luxury residential unit tower.
Melbourne-based Glenvill Developments and local Gold Coast developer QNY Group have launched Glen Q to give people buying within their $70m boutique Sunset Residences at Broadbeach certainty that it will be delivered on time.
The decision comes off the back PBS Construction collapsing earlier this month, the latest in a string of high-profile builder collapses in the past 12 months.
The new partnership will ensure the 16-level tower will meet the quality expected in a build of this calibre, said Glenvill chief executive Len Warson.
“We needed certainty that the builder on this project would deliver the high level of quality we demand,” Mr Warson said.
“However, we soon realised that the only way to ensure that level of quality would be met was by taking on the responsibility of building ourselves — this way we can ensure the end product will not only meet buyers’ expectations but exceed them,” he said.
“Glen Q ensures buyer certainty around the delivery of the project and the quality expected, given the challenges the Queensland construction industry is facing, such as builder collapses, price hikes, and materials and labour shortages,” Mr Warson added.
The apartment tower will include a limited offering of 11 full-floor beach residences, one half-floor residence, and a tri-level penthouse with a private rooftop terrace.
Located in the central Gold Coast suburb of Broadbeach on a corner block in a quiet cul-de-sac, the site has direct beach access and uninterrupted views from Surfers Paradise to Coolangatta with the hinterland beyond.
Several big name builders have collapsed in Queensland within the past year, beginning with Condev and ProBuild in March 2022.
Home builders Privium and PivotalHomes fell in quick succession in April and May, respectively, with Oracle Homes also falling in October. PBS Construction confirmed it had called in administrators four weeks ago, leaving creditors out $40m, leaving several projects in limbo.
QNY director Anthony Quinn said the launch of the joint construction venture was the culmination of strong collaboration and a display of the duo’s development and local knowledge.
“The Glenvill brand is known for high quality, reliability and safe delivery and this security combined with QNY Group’s understanding of the residential sector and thorough local knowledge will ensure we deliver a timeless project to be signposted as a new level of luxury for living on the Gold Coast,” Mr Quinn said.
The Brisbane-based ARIA Property Group took a similar approach following the liquidation of Condev Construction in April 2022, which left 14 projects in southeast Queensland unfinished.
The experienced local developer took over the construction of its Riviere tower in Kangaroo Point.
MACKENZIE SCOTT, REPORTER
As per The Australian, 29 March, 2023
