Project Updates
PRESS RELEASE (03 October 2018)
3 OCT, 2018 | Yuhu Admin

PRESS RELEASE

 

Wednesday, 3 October 2018

 

JEWEL PROJECT GOLD COAST

 

1 YUHU SAVED JOBS.

Yuhu has invested hundreds of millions into the project following ownership change and as a consequence, hundreds of jobs were saved.

2 WILL THE PROJECT BE FINISHED?

Yuhu is committed to deliver the project in its entirety: all three towers, Tower 1 – 41 floors, Tower 2 – 47 floors, Tower 3 – 34 floors. In total 512 residences and 169 hotel rooms, all will be completed and fitted out, as has always been the plan.

3 WHY THE CHANGE TO MULTIPLEX’S CONTRACT?

The previous developer was intending to manage the hotel element and the interior design and fit out was carried out to their specifications. However, after the ownership change, it has become clear that a new international hotel operator is required, and it is expected that the hotel operator will be selected in the coming weeks. As is the common industry practice, Yuhu will take guidance from the chosen operator when finalising design and configuration elements to ensure the hotel also reflects the operator’s signature and feel.

Whilst this is happening, we have acted in strict accordance with our legal advice and the contract to put on hold some of the works to avoid construction delays and to provide clarity to the head contractor Multiplex.

4 HAS MULTIPLEX BEEN INFORMED OF THE INTENTIONS?

All of the above has been done in consultation with our Contractor Multiplex and our intentions have been advised along the way. We have in turn requested that Multiplex communicate with their subcontractors. It has been a work-in-progress and communications are undertaken on a regular basis.

5 WHAT ACTIONS HAVE BEEN TAKEN TO FIND A NEW HOTEL OPERATOR?

An international tender has commenced and the selection process is taking place as quickly as possible.

6 CAN THE SAME FITOUT DESIGN BE USED?

From a cost perspective, Yuhu would prefer no changes to be made. However, it is inevitable a new hotel operator would impose their own ‘mark’ so fit-out design and specifications will inevitably be different. Yuhu is determined to ensure that an exceptional product of the highest quality and standard can be delivered to the Gold Coast as early as possible.

7 CAN YUHU TAKE SOME WORK OUT OF THE HEAD CONTRACT?

There is no dispute that Yuhu acts in strict accordance to the contract with Multiplex.

8 WHAT HAPPENS TO THE CONTRACT WITH THE SUB-CONTRACTORS?

Yuhu does not have any contractual agreement with suppliers or subcontractors but only with Multiplex. It is Multiplex’s contractual obligation to engage and manage all their suppliers and contractors.

9 WHAT HAPPENED TO THE MATERIALS ALREADY PURCHASED BY THE SUPPLIERS AND SUB-CONTRACTORS?

Yuhu, via their project manager, has informed Multiplex that all non-returnable supplies purchased up to and including 21st September 2018, will be paid for. We encourage any suppliers or contractors who believe they may have a claim to contact Multiplex accordingly.

10 ARE THERE ANY OUTSTANDING PAYMENTS?

All payments due and payable to the head contractor Multiplex have been made. Yuhu welcomes the involvement and investigation of the Queensland Building and Construction Commission to ensure all payments to suppliers and sub-contractors are made.

11 WILL MULTIPLEX BE GIVEN A CHANCE TO TENDER FOR THE NEW HOTEL FIT OUT WORK?

Multiplex knows this project better than anyone and they are in a good position to tender. We would absolutely welcome their participation.

12 WILL EXISTING SUPPLIERS AND SUB-CONTRACTORS ABLE TO TENDER FOR THE NEW WORK?

All existing suppliers and sub-contractors are welcome and in fact, encouraged to participate to put forward their prices through those head contractors and tender for this work.

13 WILL THIS WORK BE CONTRACTED TO NON-AUSTRALIAN CONTRACTORS?

Yuhu will only engage Australian contractors to undertake work for us.

14 HOW WILL INDUSTRIAL RELATIONS BE MANAGED ON THE PROJECT?

Industrial relations is managed by the contractors we engage and it is not appropriate for Yuhu to impose itself in this regard. However, Yuhu expects its contractors to maintain excellent working relationships with their workforces and all relevant stakeholders.

 

Media inquiries: Cameron Hill on 0400 940 968.

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