Aniko Group adapts $2B Mermaid Beach project for 'rightsizer' demand

Gold Coast developer, Aniko Group, has fine-tuned its strategy for the notable $2 billion mixed-use development, The Landmark located at Mermaid Beach. Responding to surging demand for affordable luxury living in the city's popular beachside suburb, the firm is integrating a ‘rightsizing’ strategy in its development plans

'Rightsizing' caters to an emerging trend in luxury living, granting buyers the privilege of compact but high-end living spaces without the usual compromises on quality. Newer motivations, other than financial ones, drive this market segment who seek prestige and amenities of large properties, but in smaller footprints.

"Rightsizing will allow us to cater to a more diverse range of apartments, thus enhancing our competitive edge," said Aniko Group’s founder, George Mastrocostas.

Mermaid Beach continues to be Queensland's premier suburb, with 'Millionaires' Row' attracting buyers ready to invest big for a piece of the coastal paradise. This has seen properties obtain record-breaking prices.

Aniko has proposed a revised development application to the City of Gold Coast. This includes an additional five floors to Tower 1 of The Landmark, now rising from the initially approved 30 levels to 35, aligning with changing market preferences.

The fresh proposal incorporates a rearrangement of existing apartments and improved features aimed at making coastal apartment living affordable. The changes to The Landmark, Aniko Group’s flagship project, will "introduce coastal apartment living at a price point that our buyers are seeking, one that simply doesn’t exist in the current market," said George.

The Landmark, positioned at the crossroads of the Gold Coast Highway and Seaview Avenue will boast a collection of residential apartments, offices, medical services, a luxury hotel, and a ground-floor retail and dining precinct. Adjustments to the development application seek to raise the number of apartments in Tower 1 from 170 to 240 by adding five more storeys.

Aniko plans to commence the first stage of The Landmark construction by the closing of the year. In the planned reconfiguration of Tower 1, each floor will host an additional apartment.

The majority of the first tower's two-bedroom apartments will now feature a study nook, reflecting Aniko’s commitment to adaptive and customer-centric designs. There are plans to increase the number of three-bedroom apartments to provide more choices for potential buyers.

"Our plans are in response to the industry’s increasing focus on high-end apartments at the expense of more affordable alternatives that resonate with rightsizers," Mastrocostas explained.

Award-winning firm Plus Architecture will be involved in the project to deliver the master-plan.

"In an increasingly discerning market, we have created a design that embodies the coastal lifestyle,” said Danny Juric, Director of Plus Architecture.

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