The Landmark: Aniko Group’s $2bn Mermaid Beach tower development next to Pacific Fair goes to market

A $2bn, four-tower mega development next to one of the Gold Coast’s biggest shopping centres will take a big step forward. WHAT IT MEANS

A prolific Gold Coast developer will next month launch the first stage of its giant $2bn Mermaid Beach project to the market as it prepares to begin construction.

Aniko Group’s four-tower The Landmark will feature four high-rises, with a 53-storey supertower at its heart.

Group founder George Mastrocostas said the first stage of the project would have 240 units of two and three bedrooms.

“We are incredibly excited to bring The Landmark to life in Mermaid Beach,” he said.

“This project reflects our dedication to creating iconic spaces that not only redefine residential living but also enrich the surrounding community.

“We are encouraging those interested to register early, as The Landmark promises to be a highly sought-after address for those looking to experience a premium coastal lifestyle.”

Artist impression of Aniko Group's The Landmark. Picture: Supplied

No pricing has been released.

An expression of interest campaign will launch ahead of the units hitting the market, with work expected to begin early in 2025.

The complex, which is expected to be the largest to launch to the market next year, will feature three residential towers of 25, 30 and 40 storeys respectively, along with a 53-level supertower to include “a mix of hotel suites and private hotel branded residences”.

George Mastrocostas from Aniko Group.

The project will be built on a 1.1342ha site on the corner of Seaview Ave and Gold Coast Highway, next to Pacific Fair. The sale of the site to developer Aniko Group settled in April for $32.5m, two years after the deal was initially done.

The development will also include 11,000 sqm of office space, the largest since Oracle was completed in the late 2000s.

The first crop of units will go on the market. Picture: Supplied

The project was approved by council despite the objections of some Mermaid Beach residents.

A new report released last week by property consulting firm Urbis said the price of units was continuing to rise, with 90 per cent of sales during the June-September quarter at or above $1m, while none were below $750,000.

It found the highest prices were being paid in the city’s south – a weighted average sale price of $3.4m – despite having little product in the market.

The central region, which includes Surfers Paradise and Broadbeach, recorded 92 per cent of all sales, with the data showing it had the highest level of unit supply since 2019.

Construction will begin in early 2025. Picture: Supplied

However Urbis senior consultant Lynda Campbell warned few projects were likely to launch in 2025 and the city was increasingly falling behind its housing needs.

Ms Campbell said more than 50 towers would have to go up annually by 2032 to reach targets set by the state government.

“The recent slowing of new project launches will hinder the Coast’s ability to hit these targets,” she said. “In 2023, for example, 16 new mid and high-rise apartment towers were launched, containing 1800 apartments.

“During 2024 to date, there have been only 11, containing around 800 apartments.”