Rockhampton home builder’s licence suspended

Source QBCC Website

ONE of Rockhampton's largest home builders has had its licence suspended by the Queensland Building and Construction Commission.

Ted Price Homes' manager Adrian Price told The Morning Bulletin last month the company had a cash flow problem but he was confident the tough times would pass.

As he left his High St premises yesterday, Ted Price confirmed he had closed his business in "a sign of the times".

A search of the QBCC website showed the company's licence was suspended on August 21 for failure to satisfy financial requirements and failure to comply with an audit on August 25.

Ted Price Homes has operated in Rockhampton, Gracemere and the Capricorn Coast for 40 years. Since 2001 the company has done 1156 jobs with a value of almost $235.3 million.

From 2009-2013 the company did over 100 jobs a year, peaking at 157 in 2011/12, but that figure dropped to only 23 in the last financial year.

TOUGH TIMES: One of the region’s largest home builders has closed his business and put the office up for sale.
TOUGH TIMES: One of the region’s largest home builders has closed his business and put the office up for sale. Rokcted

A spokesman for QBCC said the company did not meet the financial requirements for a licence.

He said those homes built by Ted Price Homes were still covered by home warranty insurance, which provided cover in the case of a builder going bankrupt.

It is understood a number of contractors are still owed money.

Master Builders' CQ regional manager Dennis Bryant said when there was a general downturn in construction, businesses needed to act quickly to manage cash flow.

"The CQ region weathered the GFC pretty well with infrastructure projects under construction… but coming out of that, and a drop in employment in coal and gas means confidence and investment is down," he said.

"It's tight times for everyone… things are improving, but it's slow."

Topics:  license rockhampton suspended

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Former sport star 'Chook' Fowler gets jail time

Anthony Fowler, left, with his former colleague Michael Falvey at Falvey's Cecil Hotel. Fowler has been convicted of robbing the hotel.

NRL player will spend time behind bars for 'betrayal'

Late evangelist's message comes to Springfield this Easter

John Van Bennekom, Keith Pellicaan, Deborah Van Bennekom and Greg Gardiner.

Billy Graham's The Cross to feature on the big screen

NOT GUILTY: Man accused of burglary found not guilty

WITNESS: Sex worker Natasha Dixon who uses the alias 'Bella Maxwell' gave evidence in the trial of her client Rudi Gregoratos.

She dropped him off at a Goodna park. Days later, she was assaulted.

Local Partners