Brisbane-based Property Solutions Holdings and associated companies are being liquidated as another high-profile property player is laid low.
Property Solutions, which was behind a number of landmark developments in south-east Queensland including The Barracks at Petrie Terrace, and Centro on James Street, Fortitude Valley, entered voluntary liquidation on May 4.
The liquidation of the companies will be handled by Vincents Accountants director of insolvency and reconstruction Nick Combis.
Property Solutions and its companies reportedly owe the ATO $2.4 million.
The company was established in 1990 and, according to its website, was responsible for more than 150 projects since then.
Other successful developments for the company included Citygate Homemaker Centre in Fortitude Valley; SW1, a $350-million mixed-use commercial and retail development on Melbourne Street, South Brisbane; and the urban redevelopment of Nundah Village.
More recently it has focussed on the development of industrial estates in the Yatala Enterprise Area, halfway between Brisbane and the Gold Coast.
The company also had interests in property management and investment, and asset and funds management.
