Nostra to take over arm of failed Victorian building company Porter Davis

 The liquidator for failed builder Porter Davis has reached an agreement to sell part of the business to a Victorian construction firm.

Nostra Property Group will take over the multiple dwelling arm, which was primarily responsible for townhouse projects.

The collapse of Porter Davis left about 1,700 home building projects in limbo, with the majority of those in Victoria and about 200 in Queensland.

Liquidator Grant Thornton said that would allow up to 375 homes to be finished, including 126 townhouses that were designed by Porter Davis and were already underway as well as another 169 developments that were yet to begin construction.

Read More: https://www.abc.net.au/news/2023-04-17/nostra-porter-davis-liquidator-sale-agreement/102230380




Comments

Post a Comment

Popular posts from this blog

HOW TO FORMALLY CLOSE AND SELL BUSINESS IN 7 STEPS

Image
  Hi There, It had been 45 years since I had been running my business. Naturally, it was time to retire and sell the entity for a profit. I wanted to get a good price for all the hard work, tears and sweat that went into the business. It was not easy to say goodbye, but we managed to pull through that phase. I prepared my employees for the transition and everyone obliged. The documentation work took lesser time as we had everything up to date. The only challenge was finding the right buyer and we screened a lot of people before going ahead. Here is an article that can help you if you are planning to do the same.       https://www.business2sell.com.au/blogs/selling/how-to-formally-close-and-sell-business-in-7-steps
Read more

How to Buy An Existing Business for Sale in Perth?

Image
 Hi All! After two years of hard work in the corporate sector, I realised that it was not my cup of tea. I had always wanted to become a successful entrepreneur. So, I left my job and started some research on the internet. Since I had not enough money to start a new business, I looked for reliable fund sourcing options in Western Australia. However, I faced many problems in getting financial support, and it was one of the difficult phases of my life. Fortunately, I got introduced to buying an existing business concept by my close friend. Yes, you don’t need huge capital or planning to become an entrepreneur. You just need to choose the right and lucrative business for sale in Perth to get started. When I searched for the businesses for sale in Perth, I found a website that offers endless business listings with detailed information. I was shocked to see a vast number of listings on the web portal. These listings have apt information and pictures of the premises to clarify...
Read more

Finbar Group completes AT238 tower, ramps up $677m in projects amid Perth’s housing crisis

Image
 Prolific West Australian apartment developer Finbar Group (ASX: FRI) has achieved practical completion of its latest project, the $100 million AT238 located in Perth’s CBD amid reports that the city is facing one of the most acute housing shortages of any capital in the country. The 32-level mixed-use development, which comprises 119 residential apartments plus two ground-floor commercial lots, has so far achieved 66 sales valued at $46.25 million. These sales are due to start settling in mid-April. However, Finbar Group is expecting the project to be sold out before the end of this year now that the it is completed. Read More: https://www.businessnewsaustralia.com/articles/finbar-group-completes-at238-tower--ramps-up--677m-in-projects-amid-perth-s-housing-crisis.html
Read more