ONYX PROPERTY MAKES IT IN THE FAST LANE
Written on the 24 October 2014 by Nick Nichols
GOLD Coast developer Onyx Property Group has proven itself to be a fast starter after being listed among Australia's best growth stories of the past year.
Onyx, founded and headed by Chris Bolger and Adam Lacey, have come in at No.32 on the BRW Fast 100 list.
The property development group, which began operating just five years ago, has embarked on a number of residential projects on Brisbane's northside and more recently the Gold Coast which has led to a near doubling of revenue this past year.
According to the Fast 100, Onyx delivered 81 per cent growth in revenue in 2014 to $20.1 million.
Onyx joins another Gold Coast company on the list, short-term lender Nimble, which came in at No.55 on growth of 63 per cent to $36.9 million.
The Fast 100 rates companies by percentage growth in revenue year-on-year. Almost two-thirds of the companies that appeared on this year's list, including Onyx, are first time inclusions.
The country's fastest growing company was Melbourne-based Kloud Solutions, headed by Nick Bowers, which grew revenue 273 per cent to $19.1 million.
It was followed by David Devine's Metro Property Development, which lifted revenue 224 per cent to $221 million.
Onyx Property Group, which was started by the former Sunland Group (ASX: SDG) staffers with the development of a single house, now has a development pipeline for more than $60 million in train.
Its key projects are the $30 million Lavender Hill residential development at Griffin on Brisbane's north and the $16 million Allisee Villas at Hollywell on the Gold Coast.
The company is understood to be close to securing new projects but has yet to reveal details.
Author: Nick Nichols