A multimillion-dollar fallout between a builder under siege and key developer has emerged amid a crisis halting construction of 500-plus apartments. Read the saga’s latest court action.
Kathleen Skene Follow 3 min read May 21, 2023 - 8:11AM
Gold Coast Bulletin
Business
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A multimillion-dollar fallout between major builder GCB Constructions and a key developer has emerged amid a crisis halting construction of 500 apartments that’sleft subcontractors and suppliers out of pocket.
Court action was lodged against GCB Constructions last week by four companies related to Dean Gallagher’s GDI Group, developer of the 27-storey Drift tower at Main Beach.
GDI claims the building company failed to lodge security bonds worth more than $3.7m and then locked the developer out of the site when they tried to take possession of it.
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