SINCE 1997

Latest Central Equity News

More building sector woes as developers, projects collapse

A building industry in tumult was hit again this week, with Victorian apartment developer Caydon collapsing and major tower developments on either side of the country killed off, all while the industry regulator is being wound up by the government.

The heritage-listed Nylex Plastics sign above silos in Cremorne, Melbourne.
Failed developer Caydon was redeveloping the iconic mixed-use Malt District encompassing the famed Nylex Plastics sign, and equally historic malt silos.

In another horror week for the national building industry, a major property developer in Melbourne has collapsed, while in Perth a separate developer has terminated a $165 million luxury tower project and a 56-floor apartment complex on the Gold Coast has been killed off.

Caydon has been building apartments for more than 20 years but has become the latest in a string of high-profile building company crashes in the past year or so.

Joe Russo, ma…