Two Canberra-based building companies responsible for some of the territory's newest projects have gone bust, with updates on the status of both made public on the same day.
Imagine Building Concepts Pty Limited was taken over by external administrators on the morning of October 9, according to documents lodged to the Australian Securities and Investments Commission (ASIC).
Jonathon Colbran and Adam Cormack of RSM Australia have been appointed to oversee the voluntary administration.
The company, which previously traded under the name T & S Building Pty Ltd, has been working in Canberra since 2010.
Mr Cormack said the company had 10 employees at the time it entered into voluntary administration.
An initial review of the financial statements and records identified more than 100 creditors who were owed in excess of $4 million.
"These are only preliminary figures and may change as we undertake more detailed investigations over the coming weeks," Mr Cormack said.
Imagine Building Concepts Pty Limited is directed by Tim Staines, who with his wife, Sarah, has over 20 years experience in the property industry.
The company is understood to have had one active project at the time of the administrators' appointment.
Their recent work includes the Moment premium townhouses in Whitlam, which were due to be completed in early 2025.
A custom-built home in Hughes was also being constructed by Imagine and was expected to be completed in September.
Previous projects include 40 townhouses and units across five blocks, known as Atlas, in Wright, and the Monash Childcare Centre.
The company has worked on a number of ACT government affordable housing projects across the past decade.
Staff also participated weekly in 'Funky Shirt Friday', a global movement which in part raises money for mental health advocacy.
RSM will write to creditors this week to advise that the first creditor meeting will be held on or before October 21.
Creditors affected by the administration of the companies should contact RSM via email at Imagine_Creditors@rsm.com.au .
Imagine Building Concepts Pty Limited was contacted for comment.
Builder with ties to 3 Property Group could be wound up
On the same day, a notice of application for a winding up order for Lifestyle Home Management (ACT) Pty Ltd was made public by ASIC.
The application for winding up began on September 12 and will be heard by the Federal Court in Canberra on October 16.
The company previously worked on the Maison development in Moncrieff, which was developed by 3 Property Group.
Lifestyle Home Management (ACT) Pty Ltd is registered at the same address as the now-deregistered Lifestyle Home Accounts (ACT) Pty Ltd, according to ASIC documents.
Gary Kelly, who has been the director of both companies at various times, was disqualified in January from managing corporations until October 23, 2025.
He was also the director of 3 Property Group.
Lifestyle Home Accounts (ACT) Pty Ltd was deregistered on October 1, 2023 under a different director.
Builders going bust in the territory
The companies are part of a string of builders to collapse in recent years, including Project Coordination which was wound up in September after it entered voluntary administration earlier in the year.
PBS Building entered administration in 2023.
National builder Rork Projects also entered voluntary administration, leaving dozens of ACT projects in limbo.
Cubitt's Granny Flats and Home Extensions, a 30-year-old ACT-based business, also went into voluntary administration in February 2024.
Do you know more? Contact Lucinda at l.garbutt-young@austcommunitymedia.com.au
