Billionaire Bob Ell joins Aniko Group’s big housing spend on Gold Coast

Billionaire property developer Bob Ell is adding to the growing pool of residential projects being promised for the Gold Coast and Tweed Heads region in 2024.

Aniko Group has secured approval for a $2 billion landmark development at Mermaid Beach on Queensland’s Gold Coast.

Billionaire property developer Bob Ell is adding to the growing pool of residential projects being promised for the Gold Coast and Tweed Heads region in 2024.

The industry veteran and chairman of Leda Group is finally unlocking the first 148 of 4500 housing lots within the Kings Forest estate at Kingscliff, near Tweed Heads, after holding the 859 hectare site for over 15 years.

It comes as prolific developer Aniko Group gained approvals for a $2bn residential and hotel project at Mermaid Beach. Dubbed The Landmark, the design will feature three residential towers and a fourth 53-level high-rise that will include a mix of hotel suites and private hotel-branded residences across from the popular Pacific Fair shopping centre.

Mr Ell said any additional homes being added to the region’s housing mix was important at a time when a lack of supply was in the spotlight. His project will eventually house 11,000 people and include a central park, retail centre, school, service station, and sporting fields.

“This significant stride towards addressing housing needs in Tweed is exciting,” Mr Ell said.

“By working hand-in-hand with the Tweed Shire Council, we’re not only on the brink of providing more housing options but also poised to create thousands of local jobs.”

Billionaire developer Bob Ell.

Aniko Group’s project will include 821 units, complemented by a mix of premium office space, medical facilities and a vibrant dining precinct on the ground floor. Residents will also have access to 1ha recreation podium.

Managing director George Mastrocostas said he hoped to create a “self-sufficient environment within a community where people can live, work and play”.

Real estate firm Colliers’ director of residential on the Gold Coast, David Higgins, said a big supply gap had emerged in the local market.

“It has really suffered in the past couple of years due to stalled projects and cost overruns,” he said. “There is a lot of demand for quality housing that offers amenity, location, space and closeness to major infrastructure.”

Mr Higgins is marketing the first stages of the Leda Group masterplan and believes there will be plenty of buyers ready to start building in 2024.

“With this supply shortage, we are confident there will be real pent-up demand for the first stages,” he said. “It has been a massive undertaking … and it is brilliant timing for the local markets that is need of quality supply.”

Further lots within Kings Forest estate will come to market next year, while The Landmark apartments will hit the market early next year. Construction on the four-tower site is set to begin in late 2024.