Construction is scheduled to resume on Probuild project Uno Melbourne after it stalled following the company’s untimely collapse in February 2022.
The major Australian construction company fell into administration after its South African parent company WBHO pulled financial support.
The Australian Financial Review reports that Uno’s developer, SP Sepia, will directly fund the Probuild team to finish the project.
Probuild had 15 projects active projects across the nation at the time of its collapse, leaving hundreds of workers unemployed and $5 billion worth of projects grinding to a halt.
Designed by Elenberg Fraser, Uno Melbourne is planned to be a 65-level residential tower at 111 A’Beckett Street and was scheduled for completion in 2023.
Uno Melbourne is planned to be a 65-level residential tower commissioned by Malaysian developer SP Setia
Image:
Elenberg Fraser
The majority of Probuild’s incomplete projects are in Victoria, with others in New South Wales, Queensland. They include ‘The Ribbon’ – a $1 billion accommodation and entertainment complex designed by Hassell in Sydney’s Darling Harbour, and the corporate headquarters for pharmaceutical giant CSL, designed by Jacobs Group.
Uno is the third project to resume since the Probuild’s collapse. Two more are also being directly funded by their developers, including the second stage of the $1.2 billion Caulfield Village project.
Builder Roberts Co is reportedly considering the takeover of Probuild’s Melbourne projects, according to the Australian Financial Review.
However, it appears Roberts Co is nearing the end of its 10-day due diligence period without coming to a decision.
The AFR anticipates that it and Probuild’s administrator, Deloitte, are likely to agree to an extension to the due diligence period before coming to conclusion.
The fate of the five remaining Melbourne projects is still uncertain, while in Sydney, Roberts is also bidding to take over The Ribbon project.
Source: Architecture - architectureau
