Work has resumed at 11 State Circle, Forrest. Photo: Ian Bushnell.
Recent court action has confirmed that prominent Canberra developer Keggins has collapsed, with a liquidator appointed to a third company in the group.
Region first reported in March that Keggins was in trouble after work on a high-profile luxury townhouse project at a prestigious address in Forrest came to a halt and receivers Newpoint Advisory were appointed to the development company, JJ Forrest Pty Ltd.
An extensive listing for the development from Blackshaw Manuka was pulled after Region made enquiries about its status.
It is understood Keggins’ sole director had not been able to refinance the project, leaving trade companies in the lurch.
On 19 March, Canberra firm Boss Building applied to the Queensland Supreme Court to wind up JJ Forrest Pty Ltd due to unpaid early work on 11 State Circle, Forrest. Richard Rohrt of Kennedy Ryan Advisor was appointed liquidator.
Now, Keggins Industrial Pty Ltd, the licensed builder for 11 State Circle, has gone into liquidation.
On 8 September, Canberra firm Pacific Formwork applied in the Federal Court of Australia for Keggins Industrial Pty Ltd to be wound up.
Pacific Formwork has been involved in some of Canberra’s major projects, including Renaissance in Griffith and Ivy in Woden.
On 1 October, Stuart Otway and Travis Olsen of SV Partners were appointed liquidators.
In October 2024, Keggins Estate Pty Ltd, went into liquidation after an application from the Deputy Commissioner of Taxation to wind it up.
The project at 11 State Circle in Forrest – nine luxury townhouses that had been listed for sale at $3.85 million each – has recently restarted under a different developer.
It has been relisted with Blackshaw, according to new ‘for sale’ signs outside the property, although the agent website says it is still off market.
The site had been locked up since late December 2024.
Keggins acquired the 3768 sqm parcel of land 500 metres from Parliament House in March 2021 for $8,410,000, almost $2 million over the reserve.
The land belonged to the descendants of Sir Cyrus Lenox Hewitt – who was Secretary of the Prime Minister’s Department in the Gorton Government – who bequeathed it to them when he died in February 2020.
Keggins was behind the Sapphire and Penthouse 405 developments at Kingston Foreshore and the W2 residential tower in the Woden Town Centre.
In December 2023, Keggins spent more than $26 million buying four blocks of land from the Suburban Land Agency in the Lawson Stage 2B estate in Belconnen.
The Keggins website account has been suspended and Mr Wang has not answered emails.
Sources say Mr Wang is a developer builder who controlled every facet of a project.
