Inside the luxurious lifestyle of collapsed company Oracle Homes owner Tom Orel

As the collapse of Oracle Homes leaves hundreds of staff and would-be homeowners in limbo, the lavish lifestyle of its owner has been revealed.

Hundreds of employees, suppliers, subcontractors and aspiring homeowners were left devastated after news broke yesterday that Oracle Homes had collapsed owing millions.

In a statement to news.com.au on Wednesday, liquidators confirmed the Logan-based builder’s demise had left 70 staff and 200 suppliers and subcontractors out in the cold, as well as 300 homes that were in the pipeline to be completed.

But now, details of the lavish life of the Queensland company’s managing director, Tom Orel, have emerged.

According to property data seen by news.com.au, Mr Orel enjoys a stunning, $5 million waterfront mansion located in the Gold Coast’s exclusive Benowa Waters.

The six-bedroom, two-storey luxury home, which boasts views of the Nerang River, is listed under Mr Orel’s wife Elia’s name.

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The mansion is valued at around $5 million. Picture: Glenn Hampson

Ms Orel is also a director of the failed firm.

Ms Orel’s 1,122-square metre property comes with a slew of prestige features Mr Orel is able to enjoy, including five “designer” bathrooms, a cinema and private lap pool, huge office, barbecue area, sun deck and pontoon boat mooring.

According to a 2012 real estate listing for the property ahead of Ms Orel’s purchase, the “super chic, designer home is a must for any large family seeking the ultimate lifestyle home”.

The listing claimed the “outstanding home” offered an “exceptional level of relaxed living surrounded by all the luxuries at a sought after and prestige address”.

“The impressive design offers six super-sized bedrooms, five designer bathrooms and powder room plus home theatre, over-size office, playroom/gym, and upstairs teenage retreat,” it continued.

“Open plan in its true sense, the living, dining, kitchen and outdoor entertaining areas integrate effortlessly, coupled with extra high ceilings and scenic window walls to create an ambience of endless space.

Oracle Homes founder Tom Orel.

Oracle Homes has collapsed, leaving hundreds of customers and suppliers in the lurch. Picture: Steve Pohlner

“The designer kitchen is complete with huge breakfast bar, Miele equipped appliances including coffee machine, and large butlers pantry. Bi-fold windows form a servery to the professional BBQ kitchen on the riverfront entertaining terrace.

“Outdoor relaxation areas are numerous all overlooking the private lap pool, sun deck, tropical gardens and scenic river/hinterland outlook.

The insight into Mr Orel’s luxe lifestyle comes as heartbreaking details begin to emerge of the devastating impact Oracle’s failure has had on many Aussies.

The luxury waterfront home is listed under Mr Orel’s wife’s name. Picture: Glenn Hampson

Staff claimed they were blindsided when they received a call informing them the construction firm had gone bust while homeowners are now faced with rising build costs to complete their homes.

One of those is Oracle customer Montana Wilkinson, who told news.com.au she and her husband had forked out $211,000 for a partially completed house and had now been left in limbo.

“They (Oracle) just dragged down everyone’s lives,” Ms Wilkinson said.

Sadly, Oracle is just the latest building company to go bust as the construction industry reels from a perfect storm of conditions including rising costs for construction materials and the ongoing supply chain crisis alongside fixed price contracts.

As a result, a string of high-profile companies have gone out of business in recent months, with Queensland firms particularly affected.

Gold Coast-based Condev went into liquidation this year, and earlier in 2022 two firms from Queensland collapsed just days apart, Pivotal Homes and Solido Builders.

The most recent construction liquidation was another Queensland builder, Besse Construction, that collapsed only last week owing $1.7 million.

– with Alex Turner-Cohen