Completion of Subi XO development up in the air

An artist’s impression of 500 Hay . Picture: Dradgin Pty Ltd
An artist’s impression of 500 Hay . Picture: Dradgin Pty Ltd

SUBI XO is in limbo while its leasing agents wait for a completion date.

Building owner Dradgin currently has a quantity surveyor assessing 500 Hay Street to work out exactly where Cooper & Oxley finished and the condition of the works.

“As leasing agents, the owner is telling us they can’t confirm when the practical completion date will be,” Lloyd Collins sales and leasing manager Paul Collins said.

“That’s making it difficult to submit proposals, and all leasing proposals are on hold.”

Mr Collins said some tenants had been lost as a date could not be set, and it was frustrating for potential tenants, agents and building workers.

“Personally I feel very strongly for the subcontractors; many of them have worked on the projects for a while, and when Cooper & Oxley went into administration we were only two months away from practical completion,” he said.

A spokeswoman for Dradgin said the company was exploring its options to finish the project.

“Dradgin is committed to completing the 500 Hay Street project as soon as practicable,” she said.

“The fit-out works which were being undertaken in conjunction with work performed by Cooper & Oxley have re-started.”

Mr Collins said once a date was confirmed, things would get back on track.

“I hope that Cooper & Oxley can trade out and we can all get back to finish the project,” he said.

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