A family-run home builder has become the latest construction company to collapse.
Perth based Inspired Property Group went into administration on Tuesday, leaving 70 unfinished construction projects.
Rob Kirman and Rob Brauer from McGrathNicol were appointed as the administrators and have already started inspecting the company’s books.
The administrators have pledged to work with staff, suppliers and customers to come up with ‘the best outcome for all parties’.
Inspired Property Group initially reported major delays in 2023, while many customers have been waiting up to four years for their houses completed.
Western Australian Premier Roger Cook recently met with impacted customers and vowed that resolving the company’s unfinished constructions was a top priority for the state government.
He previously wrote to the corporate regulator requesting a review of the company’s finances.
The claims will allow homeowners to seek other services to complete unfinished building work.
Inspired Property Group is the latest construction company to collapse. Pictured is one of its completed projects
The Perth based company went into administration on Tuesday
David Daff was ‘absolutely elated’ that the construction of his new home would finally be able to continue.
‘Words can’t describe the feeling,’ he told The West Australian.
‘Tears, joy, the entire group (of customers) . . . just feels relief.
‘It feels like we’re finally out of this prison.’
Premier Cook had previously wrote to the corporate regulator requesting a review of the company’s finances.
The administration will be ‘a step towards a resolution’, a spokesman for the WA Government told the publication.
‘Our priority continues to be getting customers into their new homes as soon as possible,’ he said.
Impacted homeowners were urged by the administrator to seek independent legal advice
Inspired Property Group director Vas Spaseski (right) vowed to work with the administrators to secure the best outcomes for all affected stakeholders
Inspired Property Group director Vas Spaseski has accepted the decision with ‘deep sadness’.
He added the family owned business had strived to continue building homes but were hampered that rising costs of sub-contractors and material shortages.
Mr Spaseski vowed to work with the administrators to secure the best outcomes for all affected stakeholders.
