Lacey Group’s 2023 Annual Wrap-up

By Adam Lacey, Managing Director, Lacey Group

As the year draws to a close, I find myself reflecting on the journey we’ve embarked upon over the past twelve months. It’s my pleasure to share with you Lacey Group’s 2023 Annual Wrap-up – a look back at the highlights and challenges we’ve encountered this year. First and foremost, I wish everyone a safe and merry Christmas, filled with joy and surrounded by loved ones.

This year marks Lacey Group’s eighth year of operation, and what a fantastic year it has been. Like any journey worth taking, it was filled with its fair share of challenges and triumphs. Each step we took was a learning experience, contributing to our growth and strengthening our resolve.

At Lacey Group, our core ethos, ‘Building Life,’ extends beyond constructing buildings; it’s about enriching lives and supporting the community. This year, we proudly donated over $10,000 to a variety of charities, a testament to our commitment to giving back. In July, I had the privilege of participating in the Gold Coast Kokoda Challenge alongside three dedicated team members. Together, we raised just over $20,000 – a contribution that we hope will make a significant impact in the lives of those in need.

One of the year’s most exciting milestones was the completion and settlement of The Monroe project in Palm Beach in October. This project, with an end value of just over $36 million, is a beacon of our dedication to quality and innovation. It was a moment of pride to see our valued buyers moving in, beginning to enjoy the state-of-the-art facilities, and taking in the breathtaking views that The Monroe offers.

Looking at our portfolio, Lacey Group currently boasts a pipeline of work valued at $132 million. This is a testament to the trust our clients place in us and our team’s relentless pursuit of excellence. We eagerly anticipate the completion of The Del Ray project early in 2024 – another milestone that we are excited to share with our buyers.

However, 2023 was not without its challenges. The rising interest rate environment, coupled with significant headwinds in the construction industry, presented a unique set of obstacles. The availability of labour and materials supply has been a persistent issue, leading to escalated costs across the sector. This challenging environment has unfortunately led to a number of builder insolvencies. These developments are a stark reminder of the volatile nature of our industry and the need for resilience and adaptability.

As we look towards 2024, it’s clear that these challenges will continue to shape the landscape in which we operate. However, at Lacey Group, we remain steadfast in our commitment to navigating these challenges with integrity and innovation. We will continue to focus on delivering quality projects that not only meet, but exceed the expectations of our clients.

In closing, I want to extend my heartfelt thanks to our team, clients, and partners for their unwavering support throughout this year. Your dedication and trust are the foundation upon which Lacey Group stands. As we move into the new year, we do so with optimism and a renewed commitment to ‘Building Life’ in all its facets.

Thank you for being a part of our journey in 2023. Here’s to a prosperous and successful 2024.



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