Two large construction companies in Australia have gone to the wall and a third is seeing red after dealing with project delays and cost blow-outs.
Only having just finished its work on the Sydney Fish Market, Sharvain Projects, the NSW firm responsible for the wave form roof, entered voluntary administration on 4 March. The first creditors’ meeting was held last week, SkyNews reported.
Often working with Multiplex and Lendlease, Sharvain’s expertise can be seen on other iconic structures in Sydney including Quay Quarter Tower, the ICC, Darling Exchange, and the Dr Chau Chak Wing Building at UTS (pictured) to name a few. Delays due to the pandemic, a crane falling in 2023, and poor weather plus increased costs in labour and materials were cited as contributing issues for going into administration.
In Victoria, construction contractors Roberts Co has also gone into administration, according to the AFR, after incurring more than $60 million in losses after acquiring Probuild’s Victorian assets for $1 in 2022 after its collapse.
The Victorian arm of the company had taken on five projects and 150 staff, but the losses are attributed mainly to 130 Little Collins Street in Melbourne’s CBD and Investa’s McNab build-to-rent project in Footscray.
Roberts Co (VIC) was in the middle of building Amazon’s largest warehouse in Australia, a 209,000 m² four-level robotic distribution facility with seven tower cranes, in Melbourne’s north, when it collapsed.
John Holland is also seeing red after big cost blow-outs on two of Victoria’s infrastructure projects. Owned by a major China government-backed builder, it has reported a $55.5 million annual loss on project delivery issues on Melbourne’s Metro Tunnel rail project and the West Gate Tunnel motorway, reported the AFR yesterday.
The company also cited higher material and labour costs as well as extreme weather for impacting its financial performance.
About the author
Desi Corbett
Desi is the Editor of Concrete in Australia, at the helm since December 2013, and our weekly news writer since 2016. Focused on concrete and construction for more than 11 years, her expertise in this field forms part of a journalism career spanning three decades. To get in touch please email desi@corbettcomms.com