Amalgamated Takes Over $160m Gold Coast Site from GCB

Amalgamated Property Group has taken over construction of its Gold Coast site from GCB Construction.

The Canberra-based developer said it had appointed GCB in April for its $160-million Amaya at Broadbeach residential development alongside project partner Base Developments. 

At the time, it said construction had begun and the development partners had secured buyers for 40 per cent of the 120-apartment build.

Amalgamated has now announced that it had made the decision “to return to the Gold Coast as the Construction Manager on all projects moving forward”.

It said that GCB was engaged by the developers under an Early Contractor Involvement model to undertake design management and early works.

“GCB and Amalgamated have maintained a good working relationship since the beginning of their interactions,” a statement to The Urban Developer said.

“On the Amaya project, GCB have pro-actively engaged with the developers and have successfully delivered the early works package onsite, and these works have now been completed on schedule.”

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▲ The 120-unit residential development Amaya at Broadbeach was designed by DBI Design and is only 300m from the beachfront.

Amalgamated have now “brought forward their mobilisation” of the same model it used in Canberra and will conduct its own construction management works on the Coast.

The joint venture construction of Amaya will continue alongside project management team Eastview under Capital Constructions Queensland, which will be headed up by the founder of Amalgamated Property Group Graham Potts

The news comes following media reports that work had stopped on a number of GCB Constructions development sites across the Gold Coast on the weekend.

The Varsity Lakes construction company has faced a war on two fronts recently, locked in a legal battle with Chinese developer Poly Global over a 243-unit and townhouse development at Ascot in Brisbane, that will return to court mid-July– and a dispute with developer Buildcap over the delivery of the Marine Quarter Southport towers.

An out-of-court settlement was reached for the Southport deal.

GCB Constructions had also recently been appointed to Steer Group’s Côte development, but there has been no word yet if construction on site at the Palm Beach development.

Article source: Queensland Property Investor