Builder moves in; Parkview takes on Vue and Dalgety projects
13 September 2007; Townsville Bulletin
By Tony Raggatt

A NEW builder is in town and they are taking on Townsville’s tallest residential tower project as well as completing a stalled unit scheme.

Parkview is an integrated property development and construction company based at Sydney and they have been appointed to build the 20-level Dalgety tower project in Denham St and complete the $14 million Vue project on Stanton Terrace.

The group is headed by Sydney builder and company director Tony Touma who was in Townsville yesterday laying the groundwork for both projects and looking for other opportunities for the company in the region.

"We are looking up and down the seaboard for construction and development sites as a joint venture developer, developer or contracted builder," Mr Touma said.

"At this stage in Queensland we have been focusing on Townsville, southeast Queensland and Brisbane."

Construction is expected to start later this year and is estimated to be completed by 2008.

The company employs about 180 people and has a score of major projects in NSW and Queensland.

Parkview turned over about $330 million last year.

Site demolition is about to begin for its 37-storey Macrossan Apartments in Brisbane’s CBD and a 92-apartment Kirra Beach project is nearing completion.

It is also building the Great Barrier Reef Yacht Club and villas at Hamilton Island.

Parkview is taking over the Townsville projects from Complex Pty Ltd which was placed in liquidation last month.

The Vue project is being developed by Sydney architects Bruce James and Partners with investors including Fortia Funds Management, the developer of the Dalgety..

Subcontractors and suppliers to Vue have claims for payments understood to total about $1.5 million, although Complex liquidator Paul Gidley of Ferrier Hodgson said it did not look hopeful for a significant return.

Complex had claims for about $3.1 million on Vue while the developers had a claim of $4.6 million from Complex relating to its inability to complete the project, he said.

Creditor claims on Complex, outside of any damages claims, amounted to about $4 million.

"There may be some return ... at the moment it does not look hopeful for a significant return," Mr Gidley said.

Mr Touma said they wanted to get in and complete the job using as many local contractors as they could although he understood there was resistance for contractors to return.

"What’s happened in the past we are not in control of," he said.

"We have negotiated two-week payment to subcontractors direct and that’s been happening.

"We just want to finish it and move on and hopefully contractors will see Parkview as someone who has rolled up their sleeves and is getting on with it."

Master Builders Association regional manager Wayne Pelling said it was good to see a company was willing to come in and complete a stalled project.

He said the fact that Parkview’s first action was to conduct a safety audit of the site was a good indication they were a professional operator.

"One can only hope the investors and subcontractors who will continue to work on the project will eventually reap the benefits of seeing it completed," he said.