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Old April 4th, 2011, 02:57 PM   #841
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Old April 4th, 2011, 11:42 PM   #842
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Amazing photo
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Old April 4th, 2011, 11:45 PM   #843
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---fantastic photo
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Old April 15th, 2011, 01:29 AM   #844
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love these bldgs
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Old April 23rd, 2011, 10:06 AM   #845
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Yesterday.

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Old April 23rd, 2011, 04:06 PM   #846
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have they finally fixed the coloured lights on the oracle buildings?
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Old April 25th, 2011, 06:38 AM   #847
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Looking at the towers from near Starbucks last night, all the ones I could see looked to be working fine.
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Old June 30th, 2011, 03:58 AM   #848
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Oracle the answer for southerners


THE Oracle at Broadbeach appears to have had a dramatic turnaround in fortunes, with 13 per cent of apartments left to sell six months after the building fell into the hands of receivers.

The strong sales result was highlighted in the latest Midwood Report, which showed only 66 apartments were left out of 509 at Oracle.

This compares with 100 remaining for sale at the end of last year.

KordaMentha has been marketing the property since Christmas when receivers moved on developer Niecon.

KordaMentha's head of property Berrick Wilson said yesterday there had been good buyer interest in the property recently.

"The Oracle is really coming alive as the retail precinct is getting a real buzz about it and apartment purchasers are moving in and loving the lifestyle," he said.

"We've noticed a big increase in interest especially from Melbourne and Sydney buyers attracted by the warmer weather and amazed at the quality and amenity of the Oracle development."

The Midwood Report shows that the Hilton Surfers Paradise also continues to be popular with buyers, with six apartments sold from March to May and a total of 190 units now sold.

Only 34 apartments remain for sale at the Hilton.

The news hasn't changed for Soul, with 196 units sold and 92 still for sale. This is the same as it was six months ago, but the Midwood Report team notes it has not received any updates from Soul developer Juniper Group during that period.

Midwood Report author Bill Morris said the majority of Gold Coast highrise apartment sales in the past three months had been discounted receiver stock. Sales of new highrise apartments totalled 51 for the period, according to Mr Morris.

"The historical long-term average for the Gold Coast is 300 unconditional sales per quarter," he said.

Mr Morris backed up claims made by Colliers International recently about the plummeting levels of new apartment stock.

As at May 31, just 695 new high-rise apartments remained for sale, according to Mr Morris, who said that represented about two years' supply.

Colliers International project marketing director Brinton Keath is predicting there will only be 1000 new apartments for sale in total on the Gold Coast by September.

Mr Keath has said recently most of the new apartment sales have been made this year in low and mid-rise complexes, which are not counted by the Midwood Report.

Mr Morris said new developments were moving ahead in Brisbane. He listed Infinity by Meriton in the CBD, Madison Heights by Metro Property Group in Bowen Hills and Capitol by Forrester Properties in South Brisbane as examples of new Brisbane highrise projects that were showing early sales. He believes apartment sales will rise when interest rates fall and make units a more attractive investment.

"With mortgage rates around 8 per cent per annum (on high bank margins of 3.25 per cent), net returns after body corporate fees of around 3.5 per cent don't make economic sense to investors," Mr Morris said.

http://www.goldcoast.com.au/article/...-business.html
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Old June 30th, 2011, 08:46 AM   #849
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87% of units sold? That's very impressive, as a lot of people were writing Oracle off as a basketcase not that long ago!
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Old June 30th, 2011, 09:49 AM   #850
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If this is so then I am a bit stunned. Neicon may live to die another day.
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Old June 30th, 2011, 01:26 PM   #851
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I wonder how many of those sales though are still in the hands of people that are trying to get out of their contracts.
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Old June 30th, 2011, 01:30 PM   #852
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I don't see how that matters, as long as there's people buying into it? A sold apartment is a sold apartment, right?
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Old June 30th, 2011, 05:44 PM   #853
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Quote:
Originally Posted by Dimethyltryptamine View Post
A sold apartment is a sold apartment, right?
No. This is what went wrong the first time around. Oracle had sufficient contracts to commence construction, but once the time came for settlement, many buyers did not settle. There were a small number who conducted litigation, but most of those unsettled contracts were simply because those who bought the apartments could no longer pay for them (post-GFC). If someone has no money to give you, then you're toast, contract or no contract.

The NEW sales are encouraging, however, because they are post-GFC sales and there have been no significant changes in people's wealth generally since those contracts were entered into. They will, in all probability, be settled with no issues.

This is precisely the reason why Juniper have delayed completion & settlement for Soul. They are hoping they may catch a small upswing in the market and, as a result, both sell some more apartments and see some of their customers come out of financial hardship, thus enabling them to settle.
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Old June 8th, 2014, 10:53 AM   #854
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Yes it maybe 3 years later but the selling of the apartments is not finished yet

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Old June 9th, 2014, 04:11 AM   #855
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probably too expensive. rip off
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Old September 25th, 2017, 04:25 AM   #856
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