George Mastrocostas on luxury and branded residences

George Mastrocostas, Founder and Director of Aniko Group “My history in the development industry definitely shows there is a flight to luxury residences within the Australian property market, and the demand for such living on the Gold Coast has greatly increased since we’ve been opened up to the rest of the world through direct flights to Asia.There is a growing trend of branded residences around the world that we can expect to start seeing in Australia in the near future, namely in the larger and more mature markets such as Sydney, Melbourne and potentially Brisbane.Previously, the Gold Coast has welcomed Palazzo Versace which has been, and continues to be, extremely well received amongst locals and tourists alike.I anticipate Australia will see more branded residences enter our shores, similar to the likes of Fendi Chateau Residences in Miami, Armani Hotel in Dubai, Bulgari Hotel in Milan and so on.These ultra-luxury residences of course require the population at the top-end of the market, and therefore it’s important that the market does not become over-saturated.What is certainly a more prevalent market in Australia is the desire for a sense of luxury without having to spend millions of dollars to enjoy it.The luxury market is looking for sophisticated residences that fulfil the goal of simplifying life while providing outstanding amenity and lifestyle options to enjoy.Developers are constantly working to outperform each other in this area, which is a great thing for the consumer. We are looking to continually adapt, improve and ultimately strive for perfection.With this in mind, we incorporate state-of-the-art facilities into each of our projects, exclusive to residents, which set the bar in luxe resort living on the Gold Coast.In order to do this, we buy the site well, giving us a great deal of flexibility and leverage to produce a development that doesn’t compromise on quality and provides additional benefits and luxuries.For example, in our upcoming project at Hope Island, known as 1 Grant Avenue, we have sacrificed building extra apartments to instead incorporate 250sqm of recreation facilities.This enhances the luxury resort feel that consumers want in apartments and essentially adds a premium to the project itself both for the owner occupier and the investor looking for strong rental returns.1 Grant Avenue will offer exclusive access to a residents’ lounge, expansive pool with sundecks, a children’s indoor play area, zen garden, private media room, barbecue facilities, a pet wash bay and marina berths.Additionally, and in response to consumer demand, our fitness centre is being designed by a yet-to-be-announced fitness personality, incorporating the most cutting-edge equipment. The calibre of 1 Grant Avenue’s fitness centre has not been reached in residential living elsewhere.Similar to branded residences, we have reached out to the best in the industry to assist us in creating the most outstanding facilities offered on the Australian property market.1 Grant Avenue is custom designed to enhance the lifestyle of residents by incorporating facilities found only in the most exclusive resorts.We look forward to launching the $140 million waterfront development in coming weeks, and we are looking to build on the success of our latest residential offering, Three72 Marine at Labrador.Three72 Marine has sold out of all 108-apartments after just six months on the market and well before construction completion.Three72 Marine also features a residents’ lounge, pool, sauna, fitness centre, children’s play area, a zen garden, barbecue facilities, pet wash bay, and extensive residents and visitor parking.We believe we are reaching a relatively untapped market that wants five-star facilities that are convenient and luxurious but affordable in an area that offers a truly world class lifestyle and climate. We attribute our success to our ability to provide a luxury residence, paired with state of the art facilities, offered at an attainable price point.”