The Oracle is a $850 million two-tower luxury apartment development at Broadbeach

Broadbeach, Queensland

Broadbeach is a suburb on the Gold Coast, in Queensland, Australia. At the 2006 Census, Broadbeach had a population of 3,791.Development in the area today mostly incorporates low rise structures, consisting of single bedroom houses and apartment blocks...

 on the Gold Coast, Queensland

Gold Coast, Queensland

Gold Coast is a coastal city of Australia located in South East Queensland, 94km south of the state capital Brisbane. With a population approximately 540,000 in 2010, it is the second most populous city in the state, the sixth most populous city in the country, and also the most populous...

, Australia. When completed it hold the record for tallest building and highest apartment sale in Broadbeach. The project consists of a 50-storey beach tower and a 40-storey hinterland

Gold Coast hinterland

The Gold Coast hinterland is an area of South East Queensland, Australia that comprises the Tweed Range, Nimmel Range, Tamborine Mountain, Numinbah Valley, eastern parts of the McPherson Range and western parts of suburban Gold Coast.-History:...

 tower and features a retail precinct which will be centred around the “Oracle Boulevard”.

The Oracle was developed by South Sky Investments subsidiary of Niecon

Nikiforides group

Niecon Developments is the property development arm of the Nikiforides Group, which started in the construction and development industry in Canberra in 1969, later expanding into Sydney and coastal New South Wales....

 with architecture by Design By Innovation (DBI) and constructed by Melbourne based company Grocon

Grocon

Grocon Pty Ltd is a large Australian construction company based in Melbourne, Australia. It is owned by the Grollo family.-History:Grocon grew from a small family concreting business established by Luigi Grollo in the 1950s, to a major building company in the 1980s with his sons Rino & Bruno...

. The project is the second five-star

Star (classification)

Stars are often used as symbols for classification purposes. They are used by reviewers for ranking things such as movies, TV shows, restaurants, and hotels. For example, one to five stars is commonly employed to categorize hotels.-Restaurant ratings:...

 hotel built on the Gold Coast after the Palazzo Versace

Palazzo Versace

The Palazzo Versace is a luxury hotel located on the Southport Spit at Main Beach on the Gold Coast, Queensland, Australia.-History:...

.

Location

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

Features

Designed by Niecon Developments

Nikiforides group

Niecon Developments is the property development arm of the Nikiforides Group, which started in the construction and development industry in Canberra in 1969, later expanding into Sydney and coastal New South Wales....

 in conjunction with Design By Innovation (DBI), 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 to three bedrooms.

The residence has a number of high-speed lifts, a water feature, Zen garden

Japanese rock garden

The or "dry landscape" gardens, often called "Zen gardens", are a type of garden that features extensive use of rocks or stones, along with plants native to rocky or alpine environments that were influenced mainly by Zen Buddhism and can be found at Zen temples of meditation.- Overview :Japanese...

 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

Teppanyaki

is a style of Japanese cuisine that uses an iron griddle to cook food. The word teppanyaki is derived from teppan , which means iron plate, and yaki , which means grilled, broiled or pan-fried...

 grill.

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

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 AU$

Australian dollar

The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...

850,000 to AU$12m, had been pre-sold before the global financial crisis

Late-2000s financial crisis

The late-2000s financial crisis is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s...

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External links