GENERAL NEWS
CHINESE-backed Melbourne-based property developer APH Holding has gone into administration, putting in doubt billions of dollars worth highly ambitious of projects...
According to records filed with the corporate regulator, the Australian Securities and Investments Commission (ASIC), creditors have appointed Matt Brynes and...
APH is headed by chairman James Zhang and run by entrepreneur Johnson Zhang (no relation). Johnson Zhang is also the co-founder of Wellington Health...
The appointment of administrators comes after APH lost control over its $1 billion Forest Hill commercial office project in August this year...
The company had tried to stave off creditors a month earlier, by putting over $200 million worth of sites on the market...
One of the APH’s lenders was MaxCap Group, which provided APH Holding with a $150 million first mortgage construction facility for the development of its...
Wellington Health project has already secured an anchor tenant in Eastern Health, for 15,000 sqm of space for 40 years...
Other APH’s projects include the 50,000 sqm retail mall of its multi-billion dollar City Park master-planned precinct in Melbourne’s Burwood East...
APH also acquired sites in the Melbourne CBD in 2022 during a spending spree, which included 441-451 Elizabeth Street, 139-141 Franklin Street and 147 Franklin Street are...
The collapse of APH is the largest since multibillion developer Caydon Property Group fell in 2022, owing $97.3 million.