The property group is currently developing a commercial precinct at the site of the old Nylex silos in Melbourne, but said two other projects – Home in Alphington and Due North in Preston – will not be affected by the collapse.
Managing director Joe Russo said going into liquidation was an “extremely difficult” decision to make.
“The latest and really confronting challenge we’ve been facing has been the pricing factors affecting the Australian property and construction industry,” he said.
“The significant disruption to our business created by two years of COVID-19 lockdowns in Melbourne has caused business uncertainty and severely impacted sales.
“Pressure on construction costs resulting in builder insolvencies and supply chain interruptions, and now the interest rate pressures and negative house price sentiment has placed additional pressure on our…
