Developers blame pandemic lockdown for collapse of six companies
These companies are administrative members who own or manage more than 90 properties worth $65 million. They include 40 apartments in the group’s Sydney Road project in Brunswick, another 16 in the Banque 88 high-rise on Southbank, a supermarket and two offices in the Chadstone development and a similar property in The Bentleigh Center being developed in Melbourne’s southeast. These companies were severely affected during the COVID-19 pandemic and [by] Government policies include rent relief measures for tenants. Director of CBD Development Guo Jing Chen The latest body blow to the property sector follows the collapse last week of two home builders that left hundreds of homeowners in limbo. Family-owned Langford Jones Homes went into liquidation leaving 65 homes unfinished, owed 250 creditors more than $10 million, and another Victorian builder, Snowdon Developments, in voluntary administration with 550 unfinished homes and 262 creditors owed $17.8 million. . Ian Collins, who has run t