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For investors and first-home buyers, the news has come as a “stressful” surprise, with many telling 9News they are now seeking legal action.
Baljinder Pal Singh signed a contract with A1A Homes to build his five-bedroom investment property at Truganina in June 2021.
It was meant to be completed in four months.
“It’s really stressful I would say and I really don’t know where to go from here,” he told 9News today.
He said he had a fixed price contract in place, but said the builder soon began asking for more money, up to $50,0000, citing increased costs.
“They have actually taken money from people and they stopped building. I think by god’s grace I was lucky,” he said.
Kathleen Vouris and Richard Albarran from Hall Chadwick have been appointed to the administrations.
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A1A homes have built houses in Victoria, New South Wales, South Australia, Northern Territory and Western Australia.
“With over 15 years of experience, A1A Homes has built a reputation for being one of the fast growing [sic] builders in Australia,” its website reads.
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A1A Commercial Builders has been marketed as “a leading construction company with over 20 years industry experience”.
Its website says it has been responsible for building schools, including Melbourne South Primary School for the Department of Education, as well as retail and commericials builds.
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Clients are now seeking legal action.
Although today, Premier Daniel Andrews wouldn’t commit to providing similar support for those impacted by A1A’s collapse, leaving it in the hands of administrators.
“Going into administration is not necessarily the end,” he said.
“If it’s done right, if the fundamentals are there, there is every opportunity to push through and finish the work they are contracted to do.”
Creditors will meet for a second time to discuss the future of A1A Homes on Tuesday.
9News.com.au have contacted A1A Homes and Hall Chadwick for comment.
