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

Port Denison residents consider legal action over ongoing power network failures

Image
 Residents of a regional West Australian community are threatening legal action against Western Power as ongoing outages bring more than a decade of frustration to a boiling point. Located about 350 kilometres north of Perth, Port Denison and Dongara are at the end of a long feeder line from Geraldton. Infrastructure supplying power to the towns is spread out across a wide area and is exposed to the elements. This summer, the total duration of outages in the towns exceeded 30 hours.  Read More: https://www.abc.net.au/news/2023-03-20/port-denison-ongoing-power-network-failures/102117020
Read more

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

WA government to kill Perth freight link

Image
 Western Australia's government will block future construction of the Perth Freight Link despite $1.2 billion in federal funding remaining on the table. Transport Minister Rita Saffioti will on Wednesday introduce legislation rezoning the Beeliar Wetlands to stop future road development. It will effectively kill off the controversial Roe 8 and 9 project, which was first proposed by the former WA Liberal government in 2014 and would have cut through a large portion of the environmentally significant wetlands on the way to Fremantle Harbour. Read more: https://www.perthnow.com.au/politics/wa-government-to-kill-perth-freight-link-c-2822443
Read more