Verve Constructions Joins List of Struggling Builders
Following the collapse of apartment builders Ralan Group and Stellar in 2019 another scalp has been taken in Melbourne based developer Verve Constructions. Verve was currently in various stages of development on a range of projects around Coburg, Moonee Ponds and Carlton. These included: Coburg Quarters, 388 Lonsdale and the Quest hotel Carlton.
The fall comes after a difficult year for apartment constructors including flammable cladding, structural issues, falling asset prices and a crash in the development pipeline. The Age reported in March that Verve was facing legal action in relation to an apartment complex in Blackburn.
Read more at the AFR here.