Jack's Point

PHOTO: Jacks Point Developer Collapses – Major Projects in Jeopardy. Down Under Endeavours

A major construction firm tied to Queenstown’s most prestigious developments has gone into liquidation — casting uncertainty over multimillion-dollar homes in one of New Zealand’s most exclusive real estate pockets.

Formcrete Construction Ltd, previously known as Falconer and Co. Ltd, was officially placed into liquidation on June 25, 2025. Insolvency specialists Baker Tilly Staples Rodway, based in Auckland, have taken over the process.

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👤 Who’s Behind the Company?

According to the Companies Office:

  • Dean Franklin is the sole director and a shareholder.

  • The other shareholder is a company owned by Lance Morrison.

  • Formcrete operated under its current name since 2022.

Until this morning, Formcrete’s website listed nine major developments at Jacks Point, totalling tens of millions of dollars in project value.

🏘️ What Happens to the Properties Now?

Although Formcrete’s website has now been taken offline, many of the same properties are still actively being promoted on www.falconer.nz and through Falconer Real Estate, operated by Julia Franklin and Willie Baddeley.

  • Property listings range from $1.25 million to $2.3 million

  • Several are advertised as “price on application”

  • One project, Village Works Quarters, is listed as 50% sold

🤐 No Comment from Director – Confusion Over Contact Details

Crux reached out to Mr Franklin for comment but received no response.

An inquiry sent to the company’s former contact email address was answered by Marty Price, previously listed as General Manager, who confirmed he has had no connection to Formcrete for the past 12 months.

Despite this, his name was still shown on the site as the main point of contact.

📅 What’s Next?

The first liquidator’s report is due to be filed with the Companies Office on July 2, 2025. Industry observers say buyers should exercise caution and seek independent legal advice before proceeding with any purchases linked to the Formcrete portfolio.

📎 Summary:

  • 🏚️ Formcrete Construction Ltd (formerly Falconer and Co.) has gone into liquidation

  • 🧱 Linked to nine major developments at Jacks Point

  • 💼 Dean Franklin is the sole director; Lance Morrison is a shareholder

  • 💻 Website taken offline; projects still listed on Falconer Real Estate

  • 📄 First liquidator’s report due 2 July 2025

SOURCE: CRUX

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