Aniko Group to deliver over 1,000 apartments at $1 billion Mermaid Beach precinct
Prominent Gold Coast developer Aniko Group is planning to bring over 1,000 apartments to a recently secured site in Mermaid Beach, pitched as being destined to become the southern gateway to the city’s central precincts of Broadbeach and Surfers Paradise.
Aniko, led by managing director George Mastrocostas, are still putting the final touches to the development plans, but there will be four towers homing the apartments, rising 25, 30, 40 and 45 levels.
The vacant 1.1 hectare site at Seaview Avenue, adjacent to Pacific Fair, is one of the largest landholdings on the Gold Coast Highway corridor and it was identified by Aniko Group as an unmatched opportunity to create a major mixed-use lifestyle precinct that will deliver a premium master-planned residential, hotel, waterfront dining and office development.
The ground floor will have a world-class waterfront fine-dining precinct that utilises more than 100 metres of waterfront presence to the west of the property facing Pacific Fair Shopping Centre and that is poised to complement the existing lifestyle and dining facilities in nearby central Broadbeach.
The mixed-use development will also include more than 5,000 sqm of commercial A-grade office space, leveraging off the site’s prime position along the Gold Coast light rail while bolstering supply in a tightening Gold Coast office market.
Mastrocostas said Mermaid Beach has become the Gold Coast’s most dynamic beachside suburb, and the development will create a new beating heart for the area.
“This will be a unique community within one of the Gold Coast’s most desirable beachside suburbs that not only offers easy access to the beach and central Broadbeach but is truly a lifestyle location featuring the Gold Coast Exhibition Centre, Star Casino, Pacific Fair Shopping Centre and central Broadbeach all in the one precinct," Mastrocostas said.
“We have developed a scheme that includes an activated ground-floor waterfront fine dining precinct that will elevate our resident and visitor experience.
“Stepping up off the ground into commercial offices provides a supply of new office space that the area has been seeking.
“Capping off the scheme is a residential offering harnessing the incredible sight lines across iconic beaches into the open ocean and the hinterland, while residents and visitors will be just a short stroll from an array of Gold Coast beaches.”
Aniko Group is close to finalising plans for the Mermaid Beach site and expects to lodge a development application in coming months, with Plus Architecture already drawing up the designs.
“Being such a significant project, our design team is taking a considered approach to create a standout development in an increasingly discerning market,” Mastrocostas added.
“A site of this scale would normally take years to amalgamate, but we are now ready to go with a development that will create a vibrant new coastal community and leave a legacy that we believe will stand the test of time.”
In recent years, the Mermaid Beach residential market has achieved exceptional price growth which has positioned the area as the city's hottest beachfront suburb. The Gold Coast’s famous multi-millionaires row, Hedges Avenue, is just a stone’s throw away from the site.
The sale of the site at Seaview Avenue was negotiated by Managing Director of CBRE Gold Coast, Mark Witheriff.
Aniko Group, which has successfully launched five luxury residential projects worth more than $500 million at Hope Island in the past three years, currently has a $105 million residential development in train at Chevron Island.
