STATEMENT OF CLARIFICATION: NXT BUILDS PTY LTD
NXT TEC. Ltd (NXT TEC.) is a building technology and intellectual property licensor.
NXT Builds Pty Ltd (NXT Builds) is a residential building company which previously held a licence to use the NXT® Building System in residential developments.
NXT TEC. has never owned NXT Builds or held any shares, management control, or operational oversight of NXT Builds, which is an entirely separate and unrelated entity.
NXT TEC welcomes the public statement issued on 7 October 2026 by Lumari Developments Pty Ltd (Lumari), the parent company and owner of NXT Builds, which confirms that NXT TEC. was is no way responsible for the financial management, operational decisions, or liquidation of NXT Builds. That statement acknowledges the independent legal status of both entities and clarifies that the non-completion of residential builds is entirely unconnected to NXT TEC. or the NXT® Building System, and can be found here
Lumari completed the acquisition of 100% of the share capital of NXT Builds in February 2026, and this transaction triggered review rights under the existing technology licence agreement. Following operational and performance concerns, NXT TEC. formally terminated the licence agreement on 25 August 2026, revoking all rights to the proprietary technology and the "NXT" trademark. Continued use of the "NXT" name by the builder prior to its liquidation was not authorised by NXT TEC. and did not indicate any ongoing affiliation, ownership, or endorsement by NXT TEC.
NXT TEC. was not consulted, informed of, or in any way involved in the decision to place NXT Builds into liquidation on 28 August 2026.
As at 28 August 2026, all structural components and installation works involving the proprietary NXT® Building System had already achieved full structural lock-up across all outstanding residential projects being undertaken by NXT Builds. The remaining non-structural fit-out and completion works sit entirely outside the NXT® Building System, and remain the responsibility of the builder.
NXT TEC. acknowledges the distressing impact the builder’s liquidation has had on investors who entered into building contracts with NXT Builds. All enquiries regarding the liquidation process, customer building contracts, and outstanding creditor claims should be directed to the appointed liquidator, Auxilium Partners.
ENDS
Media enquiries:
Purple
Dan Wilkie
P: +61 410 712 090