Aniko Group lodges planned $1.5bn four-tower Mermaid Beach mega development next to Pacific Fair
New images have revealed how a $1.4bn, four-tower mega development will transform Mermaid Beach, despite the objections of some local residents. SEE THE PICTURES
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NEW images have revealed how a giant $1.5bn mega development will transform Mermaid Beach.
Aniko Group has lodged plans with the Gold Coast City Council for the four-tower project which is earmarked for a 1.134ha site on the corner of the Gold Coast Highway and Seaside Avenue next to Pacific Fair Shopping Centre.
The project, first revealed in September by the Bulletin, has been revamped and refined and will feature four towers of 25, 30, 40 and 53 levels containing nearly 1000 units, plus 10,000 sq m of commercial office space.
Development application documents lodged with the council have featured a range of new images showing the sheer scope of the project, which will begin construction by December.
‘Completely inappropriate’: Fury at $1.5bn mega-development
Gold Coasters have reacted with fury to plans for the biggest individual mega development in Mermaid Beach’s history being unveiled, with one declaring it was “completely inappropriate”.
The Bulletin on Friday revealed Aniko Group has lodged plans with the Gold Coast City Council for the $1.5bn four-tower project which is earmarked for a 1.134ha site on the corner of the Gold Coast Highway and Seaside Avenue next to Pacific Fair Shopping Centre.
The project, first revealed in September by the Bulletin, has been revamped and refined and will feature four towers of 25, 30, 40 and 53 levels containing nearly 1000 units, plus 10,000 sq m of commercial office space.
Aniko Group boss George Mastrocostas said he planned to begin construction on the first stage – the 30-storey tower - before Christmas 2023.
Bulletin readers have had a mixed reaction to the planned development.
Danny wrote: “completely inappropriate, where is everyone going to park?”
Cameron wrote: “Best location, but underused for the most expensive suburb on the Gold Coast. Great for the area, hopefully in the commercial space there will be some restaurants/bars. With more than 15,000 per year moving to the Gold Coast, of course the GCCC needs to provide more housing opportunity for interstate migration.”
Elliott declared the Gold Coast City Council had “lost the plot”.
“Just change the name to Gotham Tokyo now and kick every last local out,” he wrote.
“No balance, no respect, no consideration given to the character of the city or the modern and indigenous identity. Just pure bent profit driven development agenda.”
Revealed: $1.5bn mega-development to transform Mermaid
THE biggest individual mega development in Mermaid Beach’s history will begin construction within 12 months as its builder pushes ahead with the project.
Aniko Group on Friday lodged plans with the Gold Coast City Council for the $1.5bn four-tower project which is earmarked for a 1.134ha site on the corner of the Gold Coast Highway and Seaside Avenue next to Pacific Fair Shopping Centre.
The project, first revealed in September by the Bulletin, has been revamped and refined and will feature four towers of 25, 30, 40 and 53 levels containing nearly 1000 units, plus 10,000 sq m of commercial office space.
Aniko Group boss George Mastrocostas said he planned to begin construction on the first stage – the 30-storey tower - before Christmas 2023.
“The inclusion of a commercial component to the project will create a local hub for a range of businesses and services located within walking distance to accessible public transport,” he said.
“Pending council approvals, we plan to launch the first stage in late 2023 and we are expecting to welcome our first residents by 2025.
“We believe the proposed plan will provide a unique and highly curated experience for both residents and workers of the development and the local community beyond.”
Mr Mastrocostas said the development would be built in four stages over a six-year period before completion by 2030, in time for the 2032 Olympic Games which the Gold Coast will co-host with Brisbane.
It is the latest twist in the long history of stalled attempts to develop the prime site during the past two decades.
Developer Mark Howard in the late 2000s pitched plans for a $300m lifestyle centre which was to have a $170 million 40-storey tower at its heart, including 132 apartments, cafes, restaurants, a medical centre and office space.
However Mr Howard’s companies were placed in receivership in April 2012 and he successfully sold it for $20m to Singaporean group Ho Bee Investment.
The company never announced any intention to develop the site and finally put it on the market in April 2017.
However it failed to find a buyer despite several expressions of interest campaigns.
The Mermaid Beach project is the latest by the Southport-based Aniko, which has rapidly become one of the Gold Coast’s best-known developers in the past five years.
According to the plans lodged with council, it will have 973 units which will range from one-bedroom to large-scaled “skyhome” units and penthouses.
Mr Mastrocostas said the development had been tailored to reinvigorate the formerly industrial area next to the light rail and public transport hub.
“With the support of GCCC we intend to reinvigorate the existing Pacific Fair Drive with retail, food and beverage tenancies which will invite and encourage pedestrian movement along our site and towards the canal edge,” he said.
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Originally published as Aniko Group lodges planned $1.5bn four-tower Mermaid Beach mega development next to Pacific Fair
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