Banksia Villages CEO Graham Wise today provided formal confirmation to residents, resident representatives and staff members that all construction work on the Banksia Lodge ACAR Project has been suspended until further notice. This is due to Banksia’s contracted builder, Project Coordination entering Voluntary Administration on Tuesday 19th March 2024.
As the project was in the very early stages, having commenced on 4th March 2024, Banksia is not exposed to material losses or likely to be in a position that requires a claim being lodged with Administrators. It is hoped that local trades engaged by Project Coordination are also minimally exposed to losses.
Banksia will now navigate the legal and administrative steps to terminate the building contract with Project Coordination (Administrators Appointed) and commence a process for identifying and appointing a replacement builder.
Banksia remains committed to the project and will take all steps to minimize the impact to residents and staff and to restart works as soon as possible. Mr Wise took the opportunity to thank residents, clients, families and staff for their ongoing support and undertook to provide further updates as soon as possible.