This Blog is designed to provide information about buying or renting apartments in Brisbane, Australia.
Friday, January 21, 2011
The Oracle - Update
SETTLEMENTS for the collapsed $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.