[COM] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower

[ghs]

Seriously shut the fuck up ghs. Where have you read that they have gone broke. They have been off site for 5 days, who says they won't resume next Monday?

It's been a couple of weeks now and I would imagine that the problem is that Built Environs haven't been paid recently. As mshagg pointed out earlier there's
a lot of financial issues involved in a construction site sitting dormant. So it's fair to say that there's some serious problems which won't be solved
overnight. Furthermore given Datong's track record you can't blame me for being cynical.

I lean toward their being some strong doubts about this project unfortunately
It has been a difficult one to get off the ground and with financial issues and the developers track record it could be a long delay

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I couldn't agree more.

Another complication here is that there's a lot of companies involved, not just built environs.
How many sub contractors and suppliers would
There be ? 200 ?

It's a mess.

[citywatcher]

Well if this development is destined to be a hole while under construction or SWP, shit happens. If you ignore Le Cornu, Adelaide City hasn’t had something like this for decades. No it’s not nice but one of the many developments going on was bound to fail at some point. I’m glad it was U2 because it’s not a huge loss.

U2 led us on to be curvy and sexy like my ex girlfriend but the more recent renders turned out to look like complete ass sweat (also like my ex girlfriend).

Sydney had two significant sites that were a hole in the ground for over a decade
Park St where Alan Bond wanted to build a 100 storey but was knocked back. It is now the 50 story Citibank tower and also the World Trade Center site further down George St which now has an 80 storey apartment block and a 60 storey office block amongst other smaller buildings. I think the office tower is KPMG ?

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[citywatcher]

Well if this development is destined to be a hole while under construction or SWP, shit happens. If you ignore Le Cornu, Adelaide City hasn’t had something like this for decades. No it’s not nice but one of the many developments going on was bound to fail at some point. I’m glad it was U2 because it’s not a huge loss.

U2 led us on to be curvy and sexy like my ex girlfriend but the more recent renders turned out to look like complete ass sweat (also like my ex girlfriend).

Sydney had two significant sites that were a hole in the ground for over a decade
Park St where Alan Bond wanted to build a 100 storey but was knocked back. It is now the 50 story Citibank tower and also the World Trade Center site further down George St which now has an 80 storey apartment block and a 60 storey office block amongst other smaller buildings. I think the office tower is KPMG ?

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Could be BDO not KPMG

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[Algernon]

Think you may be talking about Latitude, the office building at World Square. The core was sticking out of the ground for a good decade before it was revived.

[citywatcher]

Think you may be talking about Latitude, the office building at World Square. The core was sticking out of the ground for a good decade before it was revived.

That's the one

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[PeFe]

The 'Tiser are now reporting on the continuing building saga.

Built Environs walks off Datong’s U2 project



UNCERTAINLY surrounds the construction of a high profile CBD apartment block as the site enters a fourth week since the builders walked off in an alleged dispute over non payment.

A handful of employees from contracted builder, Built Environs, were spotted walking around the U2 site — on Waymouth St — yesterday morning and confirmed some work may take place later this week in order to make the site secure, but were unable to offer any detail.

Developer Datong has largely shut down communication since the fall out believed to be around the non payment of a tranche of $3 million to Built Environs, a figure Datong agreed to pay on Wednesday last week. It is not known whether this has been paid.

Built Environs had deferred its right to terminate the contract while Datong sought secondary finance to continue construction on the 257 bedroom complex.

It is unknown whether Datong has communicated with its many Chinese buyers since building stalled, some of whom bought several U2 apartments in an opening day sales frenzy which allegedly generated $25 million in May 2015.

The uncertainty thickened with the return to China in November of Datong chief Jin Liang, a well known visitor to Adelaide Casino and who recently became an Australian permanent resident.

Datong director Ping Huang last month confirmed a temporary break in construction on the U2 project.

“This matter is currently being resolved and we have no doubt that construction will recommence in the very near future,” he said. “We have the full support of Built Environs in this regard.”

Built Environs did not return calls from The Advertiser yesterday.

Datong was unable to add any further comment last night.

http://www.adelaidenow.com.au/business/ ... c79adf9aee

[timtam20292]

Not looking good at all.

[Algernon]

Wouldn't surprise me if this site got phoenixed.

[[Shuz]]

This is appalling. Datong's track record has been shocking and is nothing more a continual stream of failures and false promises. They should sell the site and get the hell out of the SA market. Their business isn't wanted here anymore.

Agreed.

[Dvious]

Not sure if guys were cleaning up today but the crane was in use and workers around the site?

[timtam20292]

Dismantling structures maybe?

[ghs]

The site is back up and running this week. Plenty of work going on today.

[Dvious]

I saw the crane in use this morning also. Let's hope this continues, it would be good to see some height around that area.

[Smithy85]

The southern and tallest core box has been dismantled.

Can't be a good sign.

[Algernon]

Put that 60 storey whatsit under the sheleved category too.