29 June 2023

New builder named to complete PBS homes in Ginninderry

| Ian Bushnell
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homes in Ginninderry

An example of the Flexi-Living range in Strathnairn. Photo: Ginninderry.

A new builder has been found for the 45 Flexi-living Homes in Strathnairn in the Ginninderry development after the demise of Canberra-based firm PBS Building in March.

The Ginninderry Joint Venture has announced the appointment of Canberra firm Nikias Diamond, which has over 50 years’ experience in residential and commercial construction, to take over the project.

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Ginninderry says it has been working with former PBS management and administrators RSM Australia to find the best way forward for the purchasers who bought Flexi-living Homes.

The joint venture says work is expected to resume on-site in mid-July.

Completion dates have been revised, but Ginninderry says it is committed to ensuring that Nikias Diamond completes the homes to the same standard of design and construction as originally envisioned.

Finish dates for the homes will now range from January to August 2024.

Ginninderry said the extended completion dates were necessary to organise trades and allow adequate time for any required rectification works.

“Whilst the circumstances that have led to these delays are regrettable, we want to assure all purchasers that we are fully dedicated to completing their Flexi-living Homes at the price that they were purchased in 2021, and we look forward to welcoming them into the community,” said Ginninderry project director Stephen Harding.

Ginninderry has updated all impacted purchasers.

The Flexi-living range is designed for first-home buyers on moderate incomes and was subject to eligibility criteria and a ballot.

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Five PBS companies in the ACT, NSW and Queensland went into administration owing more than $40 million at the last report.

The PBS board said in March that an unprecedented combination of record material costs, fixed-price contracts, labour and material shortages, extreme rain events, floods, bushfires and wars had proved an insurmountable challenge.

A second creditors report had been expected in mid-April but had been delayed due to the complexities of the case.

Ginninderry is a joint venture between the ACT Government and Riverview Developments.

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