The future of the much-anticipated Central Coast Quarter development on the former Gosford Public School site is under a cloud with the announcement that building giant St Hilliers has gone into voluntary administration.
Glenn Livingstone and Alan Walker of WLP Restructuring have been appointed as administrators for seven entities within the group’s construction division St Hilliers Contracting.
Works at all of the company’s construction sites have been paused, and about one-fifth of all staff have been made redundant.
“Following the appointment, the administrators have secured and paused all works across St Hilliers’ 21 active construction sites while they undertake an urgent assessment of the business’s financial position and operations,” a statement from WLP Restructuring said.
“As this assessment is completed, approximately 80 staff members will remain employed while 22 have unfortunately been made redundant.”
The Independent Planning Commission approved the proposed multi-million-dollar Central Coast Quarter development for the south end of Mann St, Gosford, in 2021.
The $150M mixed-use development was to comprise 295 residential apartments, a 183-room hotel and commercial and retail space in three towers ranging in height from 65m to 81m.
It was to be developed in three stages by 2025 and was expected to generate 375 construction and 75 operational jobs.
Gosford Erina Business Chamber (GEBC) President Peter Lawley said the Chamber was “surprised and concerned” at what they understood would be a temporary hold on construction at the Gosford site.
“To have this news on what will be a substantial development and economic boost to the Gosford CBD through more people living in the heart of the Gosford is disappointing,” he said.
“Our concern is for all the current trade staff and local suppliers who have worked on this project, and the many people who have paid a deposit for the apartments, which we understand were sold out, and where they will sit with this news and their financial commitments.
“GEBC is confident that the administrators will find a solution to this project, particularly given it is a prime development site, and the extent of interest in the project.
“In addition, with the confidence shown by other significant developers in the CBD, namely Aland and Alceon, we hope there is confidence shown to continue this project.
“GEBC will make contact with the administrators to ensure they are aware of the significance of this project in Gosford, and the support local business has for its continuation.”
Coast Community News has requested a statement from St Hilliers on how the move will affect the future of Central Coast Quarter.
It’s a concerning trend off the back of the smaller Castillo development which stalled last year. With all the construction activity in Gosford at the moment one hopes we’re not going to see more of these projects grind to a halt.
What a joke!
Why would anyone think it was a good idea to build with them? they went into administration 10 years ago when they couldn’t pay anyone. history repeating itself and yet again the coast looses out
I personally think it was a bad idea from the start when they kicked the kids out of their school for a site that no one wants developed. those towers will block the views for the whole of gosford.