It has been reported that settlements for the $700 million Oracle Broadbeach apartment project on the Gold Coast are likely to be delayed by the Queensland floods.
This is because Brisbane lawyers working on the contracts are unable to return to their flooded city offices, according to the receiver for the project. ... Since October, about 180 of those presales had settled after values of Gold Coast apartments typically fell by 30 per cent since the global financial crisis.
Source: The Australian
It will be interesting to see the auction results for these apartments:
Some of the Oracle apartments for sale:
- Apt 2405, $2.4M (or over $9K a sqm, which is outrageous!)
- Apt 2605, 2 bedrooms, $1.5M (note the 2006 off-the-plan price for this apartment was $1,320,000)
- Apt 1404, $795,000
- Apt 1505, $680,000
- Apt 1907, 2 bedrooms
- Apt 3401, 3 bedrooms, $1.5M
- Apt 3801, 3 bedrooms, $2.5M (or over $13K a sqm -- the vendor is on another planet!)
- Two bedroom at rear, $1.6M
- Two bedroom, $1.3M
- Two bedroom 27th floor, tower one
- One bedroom on 6th floor, just over $600,000
- One bedroom, tower 2 $800,000
- List of resales
Note that there are two towers: Tower 1 is 50 storey's, comprising 274 luxury apartments (faces the ocean with ocean views) whilst Tower 2 is 40 Storeys, and comprises 241 apartments (faces North East (behind Tower One)).
See also RealEstate Buzz
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