Prestige melbourne developer Canny Builders has entered voluntary administration and ceased trading.
Company director Damian Canny called in accounting firm PKF last Friday.
Administrators Glenn Franklin and Jason Stone are assessing whether the business can be sold.
PKF said it is “already aware of a number of parties interested in the business and the company’s IP (intellectual property)”.
Twelve affected owners of home under construction by Canny Builders have been contacted.
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Mr Franklin said all efforts will be made to transition these projects as part of a business sale “or facilitate a transfer to builders of the home owners’ choice”.
The Canny Homes division has for 25 years been building high-end
dwellings, typically priced between $1 million to $7 million.
A separate arm, Canny Projects, has completed larger scale developments including:
- 76 family-sized homes on the Kew Cottages site
in 2014; - 64 apartments and 104 townhouses on an old
nursery in Doncaster last year; - 287 townhouses on former White King factory in
Port Melbourne earlier this year; and - 20 townhouses in the Balmoral Quay development
on Geelong’s waterfront – a project also undertaken…