Construction kicks off on north shore’s best-selling project
It appears nothing can quell the hunger for waterfront luxury in Hope Island as Aniko Group ploughs through yet another sell-out on the banks of the prestigious canals.
The developer’s latest luxury offering, the $125 million Athena Residences, spent just three months on the market before all 185 of its apartments were snared by eager buyers.
It’s a familiar story for the company, headed by local development icon George Mastrocostas, which has secured back-to-back sell-outs in three separate Hope Island projects over the past two years, paving the way for the island’s luxury gentrification.
“Sales have continued strongly in the New Year and there seems to be no end in sight in terms of appetite for luxury waterfront apartment living in Hope Island,” said Mr Mastrocostas.
“We’re thrilled with the speed and passion with which buyers approached Athena and are looking forward to bringing this spectacular project to life for our new residents.
“We were fortunate to have an overflow of buyers whom had missed out on the opportunity of purchasing at No. 1 Grant Ave just a stone’s throw away. Hence, they moved quickly to secure a residence at Athena once it hit the market.
“We continue to seek out new opportunities to deliver our signature standard for quality design and luxury which is bred from an understanding of the Hope Island lifestyle.”
According to data from Urbis, Athena became one of the best-selling projects ever witnessed in the North Shore precincts in Q3 2021.
The development sold more product in a single quarter than the total number of sales recorded across the entire North Shore precinct in any other quarter for the past two years.
“We never could have predicted Athena’s sales would reach the fever pitch they did, but we are incredibly proud to have produced one of the precinct’s most sought after projects in some time,” said Mr Mastrocostas.
Construction on the project has been fast tracked off the back of the strong sales and is currently underway with Aniko’s construction arm, Aniko Constructions, delivering the eight-level project at 6-8 Sickle Avenue.
Completion is due for mid-2023.
Once complete, Athena will comprise 16 one-bedroom apartments, 153 two-bedroom apartments, and an exclusive release of 16 luxury three-bedroom sky homes.
Athena’s site will dedicate an astonishing 60% of space to open land and greenery, accompanied by a premium waterfront amenity in a limited supply of private marina berths, subject to approval.
With the sell-out of Athena now behind them, the developer has set it sights on its next Hope Island endeavour as it gears up to launch a contemporary collection of town homes to market in coming months.
No. 35 Grant Avenue will bring to market 48 townhouses and 10 waterfront duplex villas designed to reflect upmarket city-inspired living with the project centering around an expansive park precinct with meandering walkways and gardens.