Beaches build up
A BUILDING firm has been contracted to secure the stalled Beaches high-rise luxury apartment development at Park Beach, sparking speculation it could soon be completed or advertised for sale.
Builders have been on site this week, conducting the first work seen on the controversial Ocean Parade development in more than a year.
Construction consultants APP has confirmed an assessment of the site is under way.
The Westpac Bank foreclosed on the $13 million project in September, after Gold Coast-based developers the Hill Family Trust and Simcorp Developments entered voluntary administration.
“The owner is reviewing the options and the site is being secured,” APP project manager Peter Fraser said.
Mr Fraser said security guards would remain in place while the site was secured.
When asked if the bank intended to on-sell the incomplete apartment block, he said: “That’s one of the options the Westpac Bank, as the owner of the site, is considering”.
The controversial development has been a bitter issue in the local building industry.
Work ground to a halt in early 2010 after Simcorp was unable to pay local sub-contractors, some of whom were owed in the order of $40,000.
Even after the administration process, some out-of-pocket local tradesmen say they are yet to be paid for work, material and labour on the development.
Signs of activity on site were noticed on Monday.
A builder indicated that shutters were being installed to improve safety and enclose the structure.
“We’re just putting up some hoardings to make the site safe,” he said.
A Construction, Forestry and Energy Union spokesman said the building would need to undergo a safety audit before construction or a sale could be affected given it has been dormant for so long.