The landowner of a $21 million Wagga development has gone into voluntary administration, with the ramifications for the future 17-storey complex not yet known.
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CRK Holdings owns the land for the Riverside Apartments at 11 Sturt Street, set to house 67 residential units and three commercial spaces when built.
In a statement, Chamberlains SBR confirmed Chris Chamberlain was appointed voluntary administrator on August 6, with the administration "very much in its infancy."
"Chamberlains SBR are working closely with the director to assess and determine all aspects of the company's operations with the view of determining the prospects of a viable restructure," the statement read.
Selling agent PRD Wagga's managing director Simon Freemantle said he understood it was "business as usual" for the development, with sales currently progressing.
Company records list Paul Kahlefeldt as CRK Holdings director.
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