Aniko Group's luxury $140 million apartment project a near sell-out as Gold Coast property buying frenzy swamps Hope Island
The big shift is on and all roads are leading to the Gold Coast where a pandemic-induced property frenzy has created an insatiable appetite for luxury apartments in the city’s north.
Developer George Mastrocostas’ Aniko Group has been swamped by a surge of buyer demand for apartments in its stunning $140 million No. 1 Grant Avenue project at Hope Island.
Only five months after officially launching the visionary residential development, its second stage is a near sell-out.
Ninety-five per cent (95%) of its apartments have been snapped up amid a rapidly rising tide of intrastate and interstate migration to Queensland’s second biggest city.
The sales in stage two — totalling over $60 million — have occurred at double the pace of stage one, which sold out in less than 12 months.
Only a handful of residences remain available — with the final release of five three-bedroom apartments in the property hotspot expected to be rushed by buyers.
The latest research by planning and property firm Urbis confirms Aniko Group’s forward-thinking development strategy that has led to the spectacular success and sustained high demand for its contemporary residential offerings.
According to the figures, Aniko Group’s projects achieved 15 per cent of the overall apartment sales on the Gold Coast and more than 80 per cent in Hope Island throughout the December quarter, showing its domination of the city’s northern market which showed no signs of slowing down into the new year.
The residential enclave of Hope Island is in the heart of the Gold Coast’s so-called North Shore, nestled between the rhythmic waves of the city’s famed beaches and the relaxing calm waters of the Coomera River.
Driven by soaring demand from a mix of downsizers, owner-occupiers, investors and, more recently, buyers from the lockdown-fatigued southern states looking for a healthier and safer lifestyle, No. 1 Grant Avenue has established itself as one of the Gold Coast’s best-selling apartment projects.
Despite launching the project to the market and kicking off its construction in the midst of the COVID-19 pandemic, Aniko Group has racked up staggering sales totalling over $135 million.
“The strength of the buyer demand has been exceptional…and it’s getting stronger,” said Aniko Group’s Director George Mastrocostas.
“It’s almost unprecedented. I have not a project perform this well in the market for quite some time in south east Queensland.
“But the remarkable run of sales and sustained demand for the product in No.1 Grant Avenue is also testament to the quality residential offering we have brought to the market.”
The design-led project has brought a new level of stylish and sophisticated apartment living to the city’s northern suburbs.
Stage two of the development will feature 105 two, two-plus-study and three-bedroom apartments with a level of luxury that has become a trademark of Aniko’s projects, as well as a range of bridge-free marina berths available along the Hope Island canal.
Remaining apartments will range in size from 122sq m to 155sq m and are priced from $649,000 to $695,000.
Responding to the needs of the changing times, with more people working from home, stage two will comprise a ‘post pandemic’ office precinct for residents. Also, to cater for the greater emphasis on wellness and work/life balance, it will include a spectacular recreation area featuring amenities that include a health club designed by celebrity fitness guru Michelle Bridges, a children’s play centre, theatre, resident’s lounge and outdoor cooking and dining facilities.
With a sell-out anticipated in the coming weeks, well ahead of expectations and initial forecasts, Aniko Group has fast-tracked to bring forward the launch of its next project at 6-8 Sickle Avenue, located adjacent to No. 1 Grant Avenue.
Plans for the site will see a luxury gateway created into the Hope Island-Sanctuary Cove precinct and more details will be announced shortly.