A luxury builder with high-rise apartment projects under way across Brisbane and the Gold Coast was slapped with a shock “immediate suspension” of its licence. Read what happened
Kathleen Skene Business editor Follow 2 min read July 2, 2024 - 12:00PM Gold Coast Bulletin
A luxury builder with high-rise apartment projects under way across Brisbane and the Gold Coast sent shockwaves through the industry after it was slapped with an “immediate suspension” of its licence.
5Point Projects, which is based in Broadbeach and has an office in Brisbane, was suspended with “immediate effect” on June 28. The suspension was lifted mid Tuesday morning.
Security watched over the dormant site of the group’s $80m Faro development as rain showered the Broadbeach property on Tuesday.
Managing director Damian Dove said “a temporary 24-hour suspension” had been imposed by the QBCC over “administrative queries” during a “routine” audit.
“After providing further information the suspension has been lifted,” he said in a statement.
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