Aniko seek rightsizers at $2 billion Mermaid Beach apartment mega-project, Landmark
Gold Coast developer Aniko Group is refining the masterplan for its flagship $2 billion mixed-use development, The Landmark at Mermaid Beach.
Following council approvals secured late last year, Aniko is responding to the escalating demand for affordable luxury living in the city's coveted beachside suburb by trying to target the rightsizing demographic.
Rightsizing represents a shift towards higher-end yet compact living spaces without compromising on quality. Unlike traditional downsizing, buyers in this market segment are not necessarily motivated by financial reasons but seek the same prestige and amenities associated with larger properties.
Aniko, founded and led by George Mastrocostas, has submitted a modified development application to the City of Gold Coast, proposing enhancements to Tower 1 of The Landmark.
This proposal includes a reconfiguration of existing apartments along with the addition of five new floors, taking the tower from 30 levels to 35.
"The refinements allow us to introduce coastal apartment living at a price point that our buyers are seeking, one that simply doesn’t exist in the current market,” Mastrocostas said.
“The changes will allow us to bring to the market a more diverse range of apartments, strategically catering to rightsizers, thus enhancing our competitive edge."
Situated on a 1.13-hectare site at the corner of the Gold Coast Highway and Seaview Avenue, The Landmark will feature residential apartments, offices, medical services, a luxury hotel, and a ground-floor retail and dining precinct.
The masterplanned project has approvals for three residential towers of 25, 30, and 40 storeys, along with a 53-level tower featuring a mix of hotel suites and private hotel-branded residences, to be delivered over the next six years.
A sprawling one-hectare recreation podium will offer residents, commercial tenants, and hotel guests significant amenity, all within close proximity to the entirety of the site.
The amended development application seeks to increase the height of Tower 1 from 30 to 35 storeys, accommodating 240 apartments, up from the 170 currently approved, bringing the entire masterplan to a total of 891 apartments.
With construction of the first stage of The Landmark earmarked to commence by year-end, Aniko has reconfigured the floorplate of Tower 1 to introduce an additional apartment per level.
Responding to market feedback, the vast majority of the first tower’s two-bedroom apartments will now include a study nook. Aniko is also expanding its range of three-bedroom apartments as part of a broader strategy to provide additional choice for buyers.
"The new floorplans provide greater flexibility to create the style of apartments for which we are experiencing sustained demand," Mastrocostas added.
"Our plans are in response to the industry’s increasing focus on high-end apartments at the expense of more affordable alternatives that resonate with rightsizers.
“While we also plan to introduce a collection of stylish, three-bedroom-plus residences, we also want to cater to a segment of the market that has been overlooked by developers in the Gold Coast’s prime beachside suburbs in recent years."
Aniko has engaged award-winning firm Plus Architecture to deliver the master-planned development.
“In an increasingly discerning market, we have created a design that embodies the coastal lifestyle,” Plus Architecture Director Danny Juric said.
“Integrated vertical communities will be supported through a range of high quality and accessible amenities, with parks, laneways and plazas creating opportunities for people to socialise, get active or relax, and immerse themselves in retail therapy.”
