Embattled builder Nicheliving is selling off dozens of lots and properties at various stages of development after losing its building licence, but property spruikers concede it is a hard sell in this market.
Nicheliving has listed about 80 lots and properties in various stages of development at nine sites across Perth, reportedly worth a combined $26 million, through property agent Mack Hall real estate agency.
Agent Tim Chant from the Applecross branch said he had not received a response to an email he sent to builders, investors, and developers about the Nicheliving sites and one other development site last week.
“I asked them if I could put in a note for their lots because they can’t build it themselves,” Mr Chant said.
“It’s not easy to sell stuff you need to build at the moment because build costs are so high,” he said.
The sites for sale include its controversial development at Waratah Avenue in Dalkeith, where it was developing five lots with builder Bellagio Homes.
Its other sites are in Como, Bayswater, Orelia, Bentley, Mandurah and Wilson.
It is uncertain whether the sale includes its Inglewood development site, which it has been spruiking since 2019.
It is uncertain whether Nicheliving would use the proceeds to pay its $7 million tax bill.
The unfinished developments are separate from the 230 residential properties Nicheliving has failed to complete for its customers in recent years.
Many of these clients were relieved when the State’s independent building commissioner, Saj Abdoolakhan, said the Building Services Board was not satisfied that the company had met the financial requirements for registration.
The loss of its registration allows clients to access home indemnity insurance and hire another builder to do the work.
Commerce Minister Sue Ellery said this month the State Government will oppose Nicheliving’s attempts to delay the loss of its building registration after the builder launched an appeal in the State Administrative Tribunal.
The loss of its registration follows footage of angry tradesmen demanding payment at its Northbridge office.
Since 2022, there have been 73 official complaints about the builder. Some come from the 236 clients — many who signed contracts four years ago during the grant stimulus packages — who still have unfinished homes.
Many of those clients have been in insecure housing for years, paying both rent and mortgages on the empty shell of their homes.
The insurance policies allow customers to claim up to $40,000 for a lost deposit and up to $200,000 to enable building work to be rectified or completed.
Nicheliving widely advertised in the last few weeks of the 2020 building bonus grant application period that it had the capacity to take on customers seeking to build homes.
Nicheliving managing director Ronnie Michel-Elhaj was contacted for comment.