Aniko Group sell out another Hope Island apartment development
Aniko Group have landed another sell-out on the banks of Hope Island, with investors and homebuyers snapping up the all of the apartments in Athena Residences, well before construction completes.
The $125 million Athena Residences lasted just three months on the market before all 185 of its apartments were snared by eager buyers.
It’s a familiar story for the company, headed by local developer George Mastrocostas, which has secured back-to-back sell-outs in three separate Hope Island projects over the past two years, paving the way for the island’s gentrification.
“We were fortunate to have an overflow of buyers whom had missed out on the opportunity of purchasing at No. 1 Grant Ave just a stone’s throw away. Hence, they moved quickly to secure a residence at Athena once it hit the market,” Mastrocostas said.
According to data from Urbis, Athena became one of the best-selling projects in the North Shore precincts in the third quarter of 2021. The development sold more product in a single quarter than the total number of sales recorded across the entire North Shore precinct in any other quarter for the past two years.
Athena will comprise of 16 one-bedroom apartments, 153 two-bedroom apartments, and an exclusive release of 16 luxury three-bedroom sky homes. The site will dedicate 60 per cent of space to open land and greenery, accompanied by a premium waterfront amenity in a limited supply of private marina berths, subject to approval.
Construction on the project has been fast tracked off the back of the strong sales and is currently underway with Aniko’s construction arm, Aniko Constructions, delivering the eight- level project at 6-8 Sickle Avenue, due for completion mid 2023.
With the sell-out of Athena now behind them, Aniko has set it’s sights on its next Hope Island endeavour as it gears up to launch a collection of town homes in the coming months.
No. 35 Grant Avenue will deliver 48 townhouses and 10 waterfront duplex villas designed to reflect upmarket city-inspired living with the project centred around an expansive park precinct with meandering walkways and gardens.
