Nicson Property Group goes into liquidation

Nicson Property Group is the latest Melbourne developer to fold.

A Notice of Winding Up Order was mandated by the Victorian Supreme Court in April following an application by Kyriacou Architects Pty Ltd lodged in March.

Domenico Calabretta of Sydney-based Mackay Goodwin is the liquidator.

Nicson Property Group’s website is de-activated.

Founded in 2012 by then-24 year old Johnson Tran, Nicson Property Group has developed medium-scale apartment projects in West Melbourne and Yarraville.

At present, it is connected to two large Melbourne projects:

  • 810 Elgar Road, Doncaster, a 983 square metre site permitted to make way for an 11-level hotel (pictured, top); and
  • 63 Nicholson Street, Footscray – an approved apartment complex set to contain two towers of eight and 12 storeys.

News of Nicson’s liquidation comes less than a month after we reported that another Melbourne builder, Canny, entered voluntary administration.

PKF’s Glenn Franklin and Jason Stone are seeking a buyer for Canny.

Since running our story, has been contacted by several tradespeople employed by Canny, who have failed to be paid.

Caulfield East builder Steller is also winding down – recently listing several sites for sale including 200 Wells Street, South Melbourne, said to be worth more than $22 million. Another block, 451-461 Hampton Road, Hampton, is expected to sell for more than $25 million.

Steller’s highest profile property, Sorrento’s Continental Hotel, which it co-owns, is also being touted for sale via Colliers International. Currently a construction site, it is expected to sell for more than $25 million according to sources.

Steller also recently listed sites in East Keilor, worth up to $8 million, and is said to be preparing to offload 1 Brighton Road, St Kilda, a site which once accommodated the Greyhound Hotel. Steller would be lucky to break-even on the $7.5 million it outlaid in October, 2017, for the St Kilda block, sources say.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of