Tradesmen still owed up to $500k
TRADESMEN owed up to half a million dollars in unpaid work on a stalled Park Beach high-rise development, hope to see their money sooner rather than later.
It’s going on 12 months since the $13 million ‘Beaches’ apartment block ground to a halt.
Out-of-pocket sub-contractors, some of who are owed up to $40,000, are still yet to be paid.
The union acting on their behalf has called on administrators for swift action.
It’s feared the financial burden is mounting on affected sub-contractors and building companies.
“What we’d like to see is leverage put on the financial institute behind it, the Westpac Bank, to ensure that the sub-contractors are paid their full entitlements and are reinstated on the job site,” Construction Forestry Mining and Energy Union organiser Jim Hutcheon said.
“Being small businesses there isn’t a lot of protection from the government for these sub-contractors, so they need to stick together to have a hope of getting paid, but really it all rests in the hands of the financial institution that’s involved,” he said.
Administrators, Brisbane-based firm PPB, took over the luxury Ocean Parade unit development in September when Westpac foreclosed on the developers, the Hill Family Trust and Simcorp Developments.
After work stopped at the start of the year, Simcorp boss Alex Simpson told the Coffs Coast Advocate he would pay all workers and companies associated with the project.
Mr Simpson said he couldn’t make immediate payouts because he had to sell off some of his own properties, including the Coffs Harbour project, to do it.
Since the tools were put down in January, security guards have regularly manned the site.