Brisbane apartment builder CMF Projects has called in administrators in what could be the first sign of a shake out in the cooling apartment market.
The builder, which has completed at least a dozen high profile apartment projects in Brisbane, is the first builder of any real significance to go into administration in a market where the number of planned apartment developments has dropped significantly.
In February Victorian builder Watersun Homes appointed voluntary administrators to its business after identifying it no longer had sufficient funds to continue trading.
According to CMF Projects’ website it has constructed major projects for residential developers, commercial and retail developers as well as a number of gove…
Read the full article at: http://www.afr.com/real-estate/apartment-builder-cmf-projects-in-administration-20170511-gw291j