The Landmark Mermaid Beach: Developer Aniko Group settles on sale of site next to Pacific Fair
Plans for a $2 billion, four tower mega project at Mermaid Beach are a step closer, with the developer revealing something big will happen before Christmas. FIND OUT MORE
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Plans for a $2 billion, four tower mega project at Mermaid Beach are a step closer.
The sale of the 1.1342 site on the corner of Seaview Ave and Gold Coast Highway, next to Pacific Fair, to developer Aniko Group, has finally settled for $32.5m, two years after the deal was initially done.
It now clears the road for the project, known as The Landmark, to go to market.
Mark Witheriff, the Gold Coast managing director of CBRE negotiated the sale with Brenden Hogan of Colliers and said Mermaid Beach was on the verge of a major change.
“When considering the prime location, size and scale of the project proposed by Aniko Group, this is an irreplaceable asset and the development approval has added substantial value to the site,” he said.
“The Mermaid Beach holding is the best large-scale site remaining in the central Gold Coast region and it’s pleasing to see that Aniko Group has recognised the unique development opportunity it presents by progressing its plans to activate the property.”
It comes just weeks after the developer announced plans to revamp the project’s particulars, with a look at “right sizing” to make the units more affordable and therefore easier to sell.
The Landmark was given the green light in 2023, for three residential towers of 25, 30 and 40 storeys, along with a 53-level supertower.
The developer has asked council to green light one of its towers, increasing from 30 to 35 storeys while making the units smaller.
This will increase the number of units from 170 to 240 and bring the total number across the towers to 891 from 821.
The project was approved despite the objections of some Mermaid Beach residents.
Aniko boss George Mastrocostas said he planned to begin construction in late 2024.
“We’re thrilled to announce the settlement of the site purchase as the latest milestone for The Landmark,” he said.
“Through an exhaustive design process since we first put our foot on this site in 2022, we are now set to deliver a new standard for affordable luxury for Mermaid Beach, a suburb that has dominated the premium residential market for decades.”
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