Builders

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The near $300 million sale to Chinese interests of the building contractor Probuild has fallen through, after Treasurer Josh Frydenberg declared the transaction as contrary to Australia's interest.

The Australian Financial Review reported Frydenberg deemed that Probuild was a significant player in a sector that was critical to Australia's economic and social wellbeing.

China State Construction Engineering Corporation, the state-owned Chinese company, has withdrawn its offer.

The major building contractor is Melbourne-based and largely South African-owned. Late last year Probuild won the National Construction Master Builder of the Year and National High-Rise Apartment Building for The Towers and Ritz Carlton at Elizabeth Quay Project in Perth at the 2020 Master Builders National Excellence in Building and Construction Awards.

The offer attracted rigorous Foreign Investment Review Board scrutiny given the Chinese state-owned builder is the largest construction company in the world.

It has been active in Australia.

The Australian newspaper’s DataRoom column first reported CSCEC’s interest in Probuild in June last year.

Probuild’s parent, South African infrastructure contractor WBHO, holds an 88 per cent interest.

The Probuild founder Phil Mehrten stepped down from the construction group on its 30th anniversary in 2017, when it had a national project pipeline of $5 billion and annual revenue of $2 billion.

The small team’s key early project was to refurbish a shopping centre at Altona Gate in Melbourne’s west.

It went onto projects including Chadstone Shopping Centre, where it has worked on its many major expansions since 1988.

Mehrten took on partners including Wayne Judson and Ted Yencken, then  equity backing from the South Africa-listed WBHO which enabled Probuild to better compete with multinationals.
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China State Construction Engineering Corporation, the state-owned Chinese company, has withdrawn its offer.

jchancellor

Near $300 million sale of Probuild to Chinese interests falls through

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Over the years I've refined the fittings and fixtures that we include in our villas. When we first started off many years ago, we'd just run with the basic builder's range.
When I look back on the fittings in the basic builder's range I'm horrified. You see, the basic range is usually selected by the builder. The builder is very good at building homes but may not have a very strong sense of style. Large building companies will usually employ interior designers to make selections but if you are using a smaller building company, double check their fittings and fixtures.
I remember on one build, after the timber mould out stage, (when the skirting boards, architraves and internal doors are hung) I arrived on site for my inspection. Walking into the villas I saw something bright and shiny in the corner of my eye. I turned to see gold hinges on the door. We'd chosen matt chrome door handles and I asked the builder about these brass hinges. His reply was "they are the best quality hinges you can get, Jo".  It didn't cross his mind that they didn't match in with the door handles. 
Some small changes to items like tapware can make a massive difference and not even cost any more. It's all in the style of tap. A builder's range tap may be functional but not necessary pretty. If you ask your builder who his plumbing supplier is, a quick visit to their showroom and I'm sure you'd find a nicer looking tap for the same price or a higher end range that may be on sale.
The vanity is the focal point of a bathroom so look at what is available in the builder's range. Often you can add a coloured or timber look base to the vanity for no extra cost and tie in the colour with your tile scheme. A wall of feature tiles can really add impact, but make sure it's not overkill if it's a small bathroom.
Lighting is another area that adds to the style of a room.  We try to avoid boring oyster lights. It's amazing how far the humble oyster light has come. Ask the electrician where he gets his lights and again take a look at what's available. Energy saving downlights give good light and are not that expensive and if you add two pendant lights over the kitchen then you will immediately give the kitchen a higher end feel. Add bulkheads above the overhead cupboards for a clean look. 
Ceiling fan with lights to the bedrooms are usually well received by tenants and buyers and not that much more.
Don't forget the front door lighting, by adding a couple of stylish lights you're creating a good first impression.
Look at a slight upgrade to the kitchen rangehood as this adds more dimension to your kitchen.
I like to use a gloss floor tile in the living areas as it reflects light around the room and has a more luxurious feel.
Finally, give the front façade something that will increase its appeal. Aluminium timber look garage doors are only slightly more than standard colours. Upgrade the front door handle to an oversized handle and combine it with a nice metal plate with the street number  to give a glamorous entrance.
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Small upgrades that give big impact: Jo Chivers 

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The Melbourne builder Bayside Construct has gone in to administration with 12 current projects being handed over to other builders.
The Port Melbourne-based company has debts estimated at around $20 million.
Administrator Sam Kaso told the Australian Financial Review that 49 people were made redundant upon being appointed as voluntary administrator last week.
Bayside managing director Craig Hopcroft told the AFR eight of the 12 projects were doing okay, but four were "pretty much under water."
"Two of those were terrible projects. That's all you need these days – you only need a couple of bad jobs when margins are so tight."
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Initial assessments showed that Bayside Construct owed up to $13 million to external unsecured creditors, mainly subcontractors.
Last year won the company won an award for the country's best medium-rise residential development for Mint at Port Melbourne.
Established in 2006, Bayside Construct specialised in the delivery of high-end and contemporary multi-residential developments and bespoke homes.
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jonathanchancellor-7SQnKwU6yx

Award-winning Melbourne builder Bayside Construct goes into administration

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EXPERT OBSERVATION
The announcement by the NSW Government that they will be funding $285 million for apprenticeships is good news for housing supply.
The current boom in construction in NSW and particularly in Sydney will need a continuing supply of skilled trades people.
The NSW Government support for a continuing number of apprentices in the building and construction industry is therefore essential for the future work-loads.
New South Wales currently has 400,000 people employed in the development / construction industry with 280,000 of these working on new residential projects.
While recent approvals for residential projects seem to be slowing down this is hopefully a short term dip that will be balanced by continuing growth.
The allocation of almost $300 million to a continuing program of apprenticeships is a good move to help the future of the industry and will ensure thousands of young people have opportunities to develop valuable skills and undertaking training which will help them secure employment.
But the NSW Government needs to carefully manage the current community concerns about the extent of development in the residential sector as well as for major infrastructure projects.
It is important that the current extent of development is maintained so that the thousands of apprentices trained through the government’s funds have employment opportunities now and into the future.
To ensure a good flow of construction work into the future the state government needs to also manage demands from councils to increase infrastructure levies and affordable housing levies that will add to the cost of housing and slow down the supply of new housing.
CHRIS JOHNSON is the Urban Taskforce CEO.
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jrobinson-rf4aSBido9

Apprenticeship funding is good news for housing supply: Urban Taskforce

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Builder Rick Smith and his wife Shani have now put an asking price of $2.7 million on Christmas River, their 4000sqm estate fronting Jerrara Road, Jamberoo on the NSW south coast. 
Elders Real Estate agent Vivienne Marris was initially marketing the <a href="https://www.realestate.com.au/property-house-nsw-jamberoo-125195006" target="_blank">seven-bedroom property</a> at $2.785 million.
The family of eight children are off to a 20 hectare holding nearby.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/9/jamb2.jpg" alt="">
The Smiths bought the property 11 years ago, knocking over two project homes with the replacement home made to look like we had been there for 100 years.
There is underground basement parking for 10 cars, a workshop plus a double carport.
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