Aniko breaks ground on $140 million Hope Island project

Prolific Gold Coast development company Aniko Group is set to deliver an iconic new residential project to the fast-growing northern suburb of Hope Island announcing the company has commenced construction on it $140 million upmarket project known as “No. 1 Grant Avenue”.

The project is set to answer the call for more apartments in the high growth Hope Island area which currently has a critical shortage of apartment dwellings.

Aniko Group founder, George Mastrocostas said the commencement of construction came ahead of schedule as a result of strong market interest in the project.

“We’ve taken this project to the market and the level of interest has well exceeded our expectations,” said Mr Mastrocostas.

“It’s a milestone development, one of our most impressive projects to date and the apartments are certainly very competitively priced,” he said.

Aniko Group’s in-house construction team has begun site works on the project specially designed for lifestyle buyers.

No. 1 Grant Ave will comprise 210 apartments with a luxurious twist that will bring all the trappings of a luxury resort for residents to enjoy.

The first stage at No. 1 Grant Avenue will comprise 105 apartments, ranging from one-bedroom, plus study to three-bedroom, plus study residences.  Apartments will range in size from 86sqm to 199sqm. Prices start from $369,000.

The upmarket development, strategically located on an 8390sqm waterfront site, is poised to further transform the central Hope Island precinct following the recent opening of the $65 million Hope Island Marketplace located adjacent to the site.

Mr Mastrocostas said the project incorporated a range of lifestyle elements which would help to enhance the day-to-day lives of its residents.

“We are looking forward to unveiling the luxurious facilities it will offer and have some exciting concepts to launch along the way, so we’re delighted to have taken the first step with the ground-breaking,” he said.

“We want each and every one of our buyers to feel right at home at No. 1 Grant Avenue, so we have honed-in on the finer details and believe this will really show in the finished product.

“Not only have the individual apartments been thoughtfully designed, but we’ve extended this out to the communal areas in order to create a sense of community.

“Buyers will have full access to everything from a zen garden to a resident’s lounge, expansive pool and a fully equipped gym which will no doubt encourage a wider interaction with fellow neighbours and create that feeling of belonging,” he said.

The Gold Coast’s northern suburbs, including Hope Island, have benefitted from a surge in public and private infrastructure spending in recent years.

Among the big-ticket items set to follow the recently completed $470 million Westfield Coomera Town Centre is a $400 million expansion of the Gold Coast Marine Precinct.

The development comes as supply levels diminish for new apartments in the suburb with less than 50 currently on the market according to research by property consultants Urbis.

The North Shore precinct which includes Hope Island, is the most undersupplied market on the Gold Coast for apartment buyers.

No. 1 Grant Avenue adds to Mr Mastrocostas’ impressive portfolio of projects, including the $55 million Three72 Marine apartment project at Labrador which became the Gold Coast’s fastest selling development, reaching sell-out months ahead of construction.

The portfolio also includes a purpose-built luxury car showroom on the corner of Ferry Road and Brolga Avenue at Southport which was completed late last year.

The showroom, which has been leased to ASX-listed Autosports Group Limited, is a joint venture development that has become the Gold Coast home to luxury marques Bentley and Maserati.

Mr Mastrocostas has 20 years’ experience in the property industry and has created more than 1000 luxurious residences in some of south-east Queensland’s premier addresses.

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