St Hilliers places construction arm in administration – Gosford project on hold

St Hilliers, one of Australia’s leading property development and construction companies has placed seven of their operating entities within the Group into voluntary administration appointing Glenn Livingstone and Alan Walker of WLP Restructuring as Administrators on 4^th February 2024.

St Hilliers’ Gosford Waterfront development has been closed as a result.

The first creditors’ meeting was held on 14^th February with Administrators saying that the company has up to $10 million in unpaid subcontractor and supplier debt and potentially another $20 million in employee and other debt. A second meeting of creditors will be in three months.

At this stage there is no indication as to when work will resume on the Gosford Waterfront project.

Several Central Coast subcontractors and suppliers have been affected by the move.

Its property development and investment division, St Hilliers Property, remains unaffected.