A family-run home building company has gone into administration with 29 projects in limbo, becoming the latest victim of a crisis in the construction industry.
DC Living, trading as Living Homes VIC and Living Homes QLD, went into administration on January 31 with SV Partners appointed as administrators.
The Brisbane-based company, founded in April 2015, described itself as ‘born and bred Queensland home builders with a deep passion for designing and constructing quality homes for the Greater Brisbane market’.
It specialised in home designs and house and land packages.
‘From our family to yours, we’re your family builder,’ its website said.
‘At DC Living, we’re a family-run business that understands the importance of creating a sense of belonging.
A home building company has gone into administration with 29 projects in limbo (pictured is a DC Living display home in Brisbane)
‘Just like how families take care of one another, we treat you like one of our own.’
Australian Securities and Investments Commission records show the company had the trading names of Living Homes VIC from January 2021 and Living Homes QLD from June 2017.
DC Living still has an office at the Fortitude Valley in Brisbane’s inner-north, with ASIC records obtained by Daily Mail Australia showing Hugh William Bridle, 46, had been the director and secretary since April 2015.
Angelo Augostis, 52, had been director since February 2022 but was company secretary from February 2019.
Brisbane-based companies HWB Group Holdings Pty Ltd and AJH Future Pty Ltd were the main shareholders.
It’s unclear if the company had incomplete projects in Victoria but in Queensland, it had 29 projects underway worth more than $10.2million, Queensland Building and Construction Commission data cited by news.com.au showed.
Daily Mail Australia has contacted the QBCC.
DC Living can continue trading as a debt-payment plan is worked out, with insolvency group SV Partners appointing David Stimpson and Daniel Quinn as administrators.
It is the latest in a succession of building firms to fall into administration, with companies unable to make a profit as the price of materials and tradesmen soar and they are locked into fixed-price contracts.
DC Living, trading as Living Homes VIC and Living Homes QLD , went into administration on January 31 with SV Partners appointed as administrators (pictured is a display home)
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