Soul (building)

Soul is a 243 m (797 ft) tall residential tower local along the Esplanade, close to Cavill Avenue in Surfers Paradise on the Gold Coast, Queensland, Australia. It has overtaken Circle on Cavill as the second tallest building on the Gold Coast, behind Q1. The building was approved by the Gold Coast City Council in October 2004 and finished construction in 2012 along with the next stage of the Gold Coast renovation project.[2]

Soul
Location within Queensland
General information
StatusComplete
TypeResidential
LocationGold Coast, Australia
Coordinates28°00′4.2″S 153°25′49.77″E
Completed2012
Height
Roof243 m (797 ft)
Technical details
Floor count77 [1]
Design and construction
DeveloperJuniper
Main contractorGrocon

It was developed by Juniper Group, and constructed by Grocon at a cost of A$850 million.[3]

History

The site was previously occupied by the Raptis Plaza.[4] By early April 2010 construction of the core structure had reached level 40.[5] By July 2010 the tower had reached 138 m (453 ft) half the structure's total height.[6] On the 14 March 2011, workers left the site in protest at the sacking of 11 Australian tilers while Korean workers were allowed to stay.[7] Owners of units from level 39 and below were able to move into their properties before the building was complete. Some shops had opened in the retail section in mid 2010.

Design
View from north east, 2015

The tower was designed by the local architectural company DBI Design PL.The design includes 288 units on 77 floors and 5,700 m² of retail space.[3] An average square metre cost of A$16,490, made Soul the highest priced units on the Gold Coast at the time.[4]

Units

Soul's penthouse, which spans four levels, was Australia's highest-selling apartment at A$16.75 million.[2] Beneath the penthouse are three sub-penthouses each occupying a whole floor.[3] Sales were strong between 2006 and 2008, however the 2007 global financial crisis curtailed purchases.[8] All units in the building were sold for more than $1 million each.[9]

Buyers from China were specifically targeted after strong sales from Chinese visitors were recorded early in 2010.[5] Overall most purchases were made from people living in the South East Queensland region.[6] In early 2009 sales of units in Soul had slowed with just over 100 units still for sale.[10] By July 2010, three-quarters of the units had been sold.[6]

Receivership

The development was placed into receivership in October 2012. At the time at least 88 units in the building remained unsold.[9] Earlier, Grocon had started legal proceedings against Juniper Group over alleged outstanding payments for construction.[11]

Management

From November 2013,[12] Mantra Group took over the management rights of Soul from the receivers & manager, PwC.

See also

References
  1. About Soul
  2. Fiona Cameron (27 March 2007). "Grocon building $850m Gold Coast high-rise". The Australian. Retrieved 30 August 2009.
  3. "Soul Takes Beachfront Living To A New Level". Juniper. Retrieved 29 September 2015.
  4. "Plaza bulldozed for Surfers Paradise renaissance". goldcoast.com.au. News Limited. 15 March 2008. Retrieved 20 September 2010.
  5. Shannon Willoughby (7 April 2010). "Juniper looks East for Soul tower sales". goldcoast.com.au. News Limited. Retrieved 19 March 2011.
  6. Shannon Willoughby (1 July 2010). "Soul tower halfway to its home in the sky". goldcoast.com.au. News Limited. Retrieved 19 March 2011.
  7. "Union fuming over building jobs going to 'backpackers'". ABC News Online. Australian Broadcasting Corporation. 16 March 2011. Retrieved 19 March 2011.
  8. Andrew Fraser (18 November 2010). "Gold Coast high-rise stress 'underestimated'". The Australia. News Limited. Retrieved 19 March 2011.
  9. Marissa Calligeros (26 October 2012). "Gold Coast tower in receivership". Brisbane Times. Fairfax Media. Retrieved 16 November 2012.
  10. Kathleen Donaghey (19 March 2009). "Apartment oversupply to force prices down". goldcoast.com.au. News Limited. Retrieved 30 August 2009.
  11. "Receivers appointed to Soul Tower on Gold Coast". The Australian. 25 October 2012.
  12. "Mantra Group to Manage Soul Surfers Paradise". Mantra Group. 6 August 2013.
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243m
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244m
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