Collapse of major building group leaves hundreds in limbo amid building boom

The collapse of Brisbane-based Privium construction company has left hundreds of homes unbuilt across Australia and one family’s first home dreams in limbo in Toowoomba on Queensland’s Darling Downs.

Homecare worker Nicci Moynahan took possession of a block of land in late September and signed a contract to build her first home with a company called Build Today.

That company is associated with Impact Homes and Privium Group, which went into voluntary administration earlier this week.

Chief executive Rob Harder said in an email to “valued clients and suppliers” that he was “deeply sorry”.

“I understand that this is not the news you wanted to hear and that this will create real difficulties,” Mr Harder said in the email.

‘We just don’t know where to go’

Ms Moynahan did not receive that email and found out through the media the company meant to build her first home had gone into voluntary administration.

“I told my husband, ‘If this is true, well, we’re stuffed’, so it’s just a shock,” she said.

Ms Moynahan said the discovery made her feel “angry” and “pissed off”.

“I [am] at a loss of where we go from here,” she said.

“It’s very disappointing because it seems like everything in our life is one step forward, and then a million steps back.”

Ms Moynahan said she was “lucky” building was yet to commence on her land, but the company going under left her family in the dark.

“We’re not halfway through a build to the point that everything has come to a standstill like those others, so we still have the money … sitting in the bank ready to start building — so yes, very, very lucky in that respect,” she said.

But in terms of having clarity on what would happen next, Ms Moynahan said she had “no clue”.

“Do we go and look for somewhere else?

“This is our first home, so the First Homeowner’s Grant is tied into that as well.”

The mother of two said she has had no communication from any company or authority involved regarding her property.

“I can’t get a hold of anyone,” she said.

Creditors meeting in late November 

Those affected like the Moynahans may have to wait until “late November” to find out what will become of their properties.

The company appointed for administration for Privium Group is FTI Consulting, who said in a statement that an independent assessment of Privium’s financial position would be undertaken.

“The administrators will work closely with the applicable regulators in Queensland, New South Wales and Victoria to ensure individuals receive assistance and if appropriate, have their properties completed by an alternative builder”, the FYI statement said.

“The administrators will provide a high-level update at a creditors meeting expected in late November.” 

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