The Oracle, Queensland

The Oracle is a $850 million two-tower luxury apartment development at Broadbeach on the Gold Coast, Queensland, Australia. When completed it hold the record for tallest building and highest apartment sale in Broadbeach.[1] The project consists of a 50-storey beach tower and a 40-storey hinterland tower and features a retail precinct which will be centred on the "Oracle Boulevard".

The Oracle
General information
StatusComplete
TypeResidential/Retail/Hotel
LocationBroadbeach, Gold Coast, Australia
Coordinates28°01′50.6″S 153°25′56.8″E
Opening2010
Height
Roof160 metres (520 ft) / 130 metres (430 ft)
Technical details
Floor count50 / 40
Design and construction
DeveloperNiecon Developments
Main contractorGrocon
References
The Oracle Broadbeach

The Oracle was developed by South Sky Investments subsidiary of Niecon with architecture by Design By Innovation (DBI) and constructed by Melbourne-based company Grocon.[2] The project is the second five-star hotel built on the Gold Coast after the Palazzo Versace.[3]

Location

The Oracle site is bounded by Elizabeth Avenue, Surf Parade and Charles Avenue, Broadbeach, a suburb of the Gold Coast, Queensland.[4][5] It has taken over 15 years to amalgamate the site which is almost a whole city block.[2]

Features

Designed by Niecon Developments in conjunction with Design By Innovation (DBI),[6] The Oracle consists of a 50-storey and a 40-storey luxury residential tower above a gallery of boutiques, cafés and restaurants. The project includes a total of 505 apartments containing between one and three bedrooms.[3]

The residence has a number of high-speed lifts, a water feature, Zen garden and T'ai chi Lawn. Sporting facilities include a 25 m heated lap pool, indoor spa, steam room, sauna and gymnasium. Leisure facilities include an in-house cinema with surround sound, private wine lockers, executive lounge, and a Teppanyaki grill.

The Peppers Broadbeach Hotel, a five-star hotel within the complex, opened in November 2010.[7]

Receivership

In December 2010 the South Sky Investments, developer of the Oracle complex, has been placed into receivership as the company was unable to achieve settlements of up to 400 pre-sold apartments. The remaining apartments, which ranged in price from A$850,000 to A$12m, had been pre-sold before the global financial crisis.[7]

See also

References
  1. Steve Spinks (9 October 2008). "The Oracle rises above the crisis". Retrieved 1 September 2009.
  2. Gold Coast News (22 May 2008). "Twin-tower Oracle project poised to realise its promise". Retrieved 1 September 2009.
  3. "Gold Coast's Oracle towers open before year ends". International Business Times. 23 July 2010. Archived from the original on 26 July 2010. Retrieved 19 November 2010.
  4. "Very Gold Coast". Retrieved 1 September 2009.
  5. "Google Street Map". 2008. Retrieved 1 September 2009.
  6. "Design By Innovation Official Website". Retrieved 1 September 2009.
  7. "Gold Coast complex crashes into receivership". The Australian. 17 December 2010. Retrieved 21 October 2011.
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