At Onehunga\u2019s Beachcroft, BDO\u2019s Rees Logan and George Bannerman have now also been appointed to the nearly-finished units, following McGrath Nicoll\u2019s appointment, which was reported yesterday<\/a>.<\/p>\n BDO are joint and several administrators. McGrath Nicol are joint and several receivers and managers.<\/p>\n Beachcroft Residences has 88 units and Amaia has 88 but with plans to go to 500.<\/p>\n At Amaia, a creditor of KBS Construction told how, for many months, his business had been trying to secure payments for work on the block near the on-ramp to the Southern Motorway.<\/p>\n He was surprised and disappointed to see Khov Jones\u2019 appointment yesterday and wondered how many other subcontractors and suppliers to Amaia were seeking payments.<\/p>\n Many Amaia apartments remain unsold. <\/p>\n Real estate agents have 56 listings on Trade Me alone for Amaia at 48 Esmonde Rd.<\/p>\n Prices remain elevated, at more than $1m for a two-bedroom unit.<\/p>\n Operators are also being sought for Amaia\u2019s planned childcare centre and gym. <\/p>\n \u201cKBS Construction is currently working on two projects in Hobsonville: Hobson Green and Scott Point Residential,\u201d the business says.<\/p>\n The Herald has requested comment from the company and the liquidators.<\/p>\n Beachcroft worries<\/p>\n One buyer who paid a six-figure deposit for a Beachcroft apartment is worried about settling, saying she is investigating how to escape the contract.<\/p>\n With so much trouble since that scheme was launched in 2017, the buyer fears what might happen if full settlement of nearly $1m is sought.<\/p>\n However, Andrew Grenfell of McGrath Nicoll is vowing to get Beachcroft Residences finished.<\/p>\n All the sales contracts will fall due to settle once code compliance is issued.<\/p>\n Grenfell is examining what remaining work is required to complete the project.<\/p>\n The site would be temporarily closed while that assessment is undertaken, he said yesterday.<\/p>\n \u201cThe current intention remains to bring the project to completion and deliver the finished development as soon as practicable,\u201d Grenfell said.<\/p>\n He did not answer a question about how many units are sold, with deposits paid.<\/p>\n But he did say all those deposits were safe because they are held in a lawyer\u2019s trust account.<\/p>\n \u201cOnce the project is completed and the required consents issued, the current intention is to settle the presales,\u201d Grenfell said.<\/p>\n Construction industry pressure<\/p>\n Meanwhile, in a separate series of actions, Inland Revenue advertised in the Herald today applications for liquidation of Prestigious Builds, Guardian Homes, Complete Construction and Zodiac Construction.<\/p>\n Application hearings are to be held at the High Court at Auckland on October 23 for the four companies.<\/p>\n Company liquidations are up 26% on last year<\/a>, according to credit reporting agency Centrix.<\/p>\n Construction remains the leading industry for company liquidations, with 761 firms liquidated in the past year \u2013 a 38% increase. <\/p>\n Trade Me is now showing 95 properties under mortgagee sale nationally, the most expensive being two Ellerslie titles where consent was issued for a 56-unit apartment scheme.<\/p>\n Other troubled big apartment schemes:<\/p>\n Seascape<\/a>, $300m+ 56-level Customs St East tower, construction stalled a year ago;Richardson Rd, Mt Roskill, fixed crane remains on unfinished units, developer insolvent<\/a>;Never-lived-in, 46-unit Loxley Apartments<\/a>, Takapuna, where even a mortgagee sale attempt failed;Du Val properties, some partly finished, which PwC has tried to sell<\/a>, at Sunnyvale, Henderson and M\u0101ngere.<\/p>\nBeachcroft Residences at Onehunga, where construction is nearly done. Photo \/ Fiona Goodall <\/p>\n
Amaia, where real estate agents are advertising many units as well as the childcare and gym business. This apartment project is at 48 Esmonde Rd, Takapuna.<\/p>\n
Loxley Apartments, at 32-34 Tennyson Ave, Takapuna. Photo \/ Colliers<\/p>\n