Yarraman - Construction Update - June

7 June 2018

We have two important updates we would like to advise.

Settlement date for Stage 1

Stage 1 of the Yarraman Village project is expected to be delivered prior to the end of the calendar year 2018. The timing has been revised from the initial forecast of June to August 2018 due to a slippage in the builder’s program as a result of the ongoing buoyant market conditions and pressure it has put on resources. The delivery of your quality home in a timely manner remains our utmost priority and we will continue to work closely with the builder to provide regular updates on their progress. This delay will not impact the build quality of Townhomes in stage 1 and is purely a timing issue.  We apologise for any inconvenience caused by the delay and appreciate your patience.

Builder tender process

We have undertaken a tender process to contract a different builder for future stages of the development. A preferred tenderer has been identified and the process will be finalised in the coming months.

Please refer to the following Q&A for more information.
We encourage you to contact us on 03 9024 9000 if you have any further queries.

Q&A 

1. Why is Stage 1 delayed?

The builder of Stage 1 has informed Village that there will be a delay to their program due to difficulties securing tradespeople in the competitive Melbourne construction market. While the initial forecast was for June to August, further the slippage in the program means a revised settlement date prior to the end of the calendar year 2018. We will continue to work closely with the builder to ensure the delivery of your quality home in a timely manner, which remains our utmost priority. We will notify you immediately should the situation change. We apologise for the inconvenience and appreciate your patience.

2. Does this mean delays for future stages?

No, Stage 2-6 remain on schedule for delivery in late 2019.

3. Why are you tendering for a new builder?

The current builder was only contracted to deliver Stage 1. Village’s priority is to deliver the project with your best interests in mind. As such, we undertook a tender process to find the builder best suited for the upcoming job.

4. Who will be the builder for the remaining stages?

The tender process will be finalised in the next few months. Village may appoint one or multiple builders for the remaining stages of the project to ensure the delivery program is maintained. We will keep you informed of further updates. 

5. What impact will this have on my property?

The use of different builders for Stage 1 and future stages will not impact your home or the project.

6. Will the houses look the same?

Yes, there will be no change to the design of the properties.  The high level of finishes and specifications will be maintained and not impacted by a change in builder.

7.  Are any issues expected to arise from having a different builder for Stage 1 & future stages?

No, the project is conveniently split into separate sites with multiple access points, which make the change of builders a seamless process, and having multiple builders on the site will enable Village to maintain the building program.