The Balmoral Tower at Beaches Towradgi is nearly finished, but Southern Cross builders have gone bust. Picture: ANDY ZAKELI
THE company behind the Beaches development at Towradgi says its $13 million Balmoral Tower apartment complex will be completed - and on time - despite the collapse yesterday of the construction firm responsible for the project.
Southern Cross Constructions (NSW) was put into voluntary administration yesterday owing an estimated $17 million to at least 600 creditors.
The construction company was working on four projects in NSW worth a combined $230 million, including Balmoral Tower.
But Beaches development manager, Kristen Maganino, yesterday moved to assure the public Balmoral Tower would be finished by the end of the year.
"We have put measures in place to ensure, despite the financial situation of the builder, that Balmoral Towers will be delivered on time and all sub-contractors will be paid," Ms Maganino said on behalf of the company behind the development, Sorball Pty Ltd.
She declined to elaborate on what the "measures" entailed, citing contractual confidentiality.
She confirmed sub-contractors working on the site included a mix of Sydney-based and Illawarra tradespeople, but could not immediately say how many were from the region.
Balmoral Tower is the first of three apartment blocks planned for the 3.5 hectare site, which also includes a 42-home housing estate.
Sorball is accepting expressions of interest for the second high-rise, to be called Broadbeach, but is yet to begin work on the building.
Ms Maganino said Southern Cross Constructions was not attached to either the Broadbeach complex or the Beaches houses.
Balmoral Tower features 44 apartments across six storeys, on top of ground-floor parking.
Southern Cross is the latest of several collapses in the NSW construction sector, including Reed Construction, St Hilliers Construction, Perle Construction, Kell & Rigby and its subsidiary Brisland, and the collapse of builders Westminster and Cosmopolitan.
Perle and St Hilliers Construction were involved in public housing projects in Wollongong.
