Aniko Plans for Landmark $1 Billion Mermaid Beach Development

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Architectural rendering of Aniko's new Mermaid Beach development

The acquisition of a major development site at Mermaid Beach by Aniko Group has gone unconditional as the prolific Gold Coast developer finalises plans to create a $1 billion landmark project destined to become the southern gateway to the city’s central precincts of Broadbeach and Surfers Paradise.

The vacant 1.1342ha site at Seaview Avenue adjacent to Pacific Fair is one of the largest landholdings on the Gold Coast Highway corridor and it has been 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.

Situated in a prime location on the Gold Coast Highway, positioned prominently at the entrance to the iconic Pacific Fair Shopping Centre, the site is further underpinned by the unique access to the Broadbeach South light rail station and bus interchange right at its doorstep that will deliver diners, a commercial workforce, tourists and residents to this uber-connected site.

The significance of the strategic location has defined Aniko Group’s commitment to focus on creating an architectural statement that will accommodate a vibrant new micro-community immersed in an integrated resort experience in one of the Gold Coast’s premier residential precincts.

Aniko Group has laid plans for four residential towers, comprising 25, 30, 40 and 45 storeys, that will deliver about 1,000 apartments to a Gold Coast residential market that remains in severe undersupply.

The master plan for the development will include a heavy focus on delivering a level of world-class resort style amenity that will be truly unmatched.

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 5,000sqm 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.

“We have developed a scheme that includes an activated ground-floor waterfront fine dining precinct that will elevate our resident and visitor experience,” said Aniko Group managing director George Mastrocostas.

“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.

“Mermaid Beach has become the Gold Coast’s most dynamic beachside suburb, and this development will create a new beating heart for the area,” said Mr Mastrocostas.

“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.”

With acquisition of this significant development site now unconditional, Mr Mastrocostas said Aniko Group was looking forward to delivering one of the most sophisticated residential and commercial developments on the Gold Coast in more than a decade.

“Being such a significant project, our design team is taking a considered approach to create a standout development in an increasingly discerning market,” he said.

“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.

Aniko has engaged award-winning firm Plus Architecture to deliver the master-planned development.

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.

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