Queensland developer breaks ground on $620M riverfront vision

Luxury developer Pikos Group has broken ground on its second riverfront project in Brisbane in as many years with Gaia, which will deliver two residential buildings and the inner city’s largest private parkland. 

It brings the total value of Pikos Group’s projects under construction in Brisbane to circa $1 billion, with the developer’s 35-year history and strong industry partnerships credited with its ability to forge ahead in a challenging construction environment. 

In addition to delivering much needed new housing supply, Gaia will deliver an estimated 695 direct and indirect jobs over the next two and half years of construction, and circa $110 million in value to Brisbane’s economy.

Pikos Group Founder and Executive Director, Pedro Pikos, said Gaia was more than a decade in the making.

“Since 2014, we have amalgamated eight individual lots to open up over 5,300sqm of pure river frontage and deliver an unrepeatable opportunity to create high-end apartments and sprawling green spaces that connect with their natural and urban settings,” Mr Pikos said.

The project will deliver a mix of 215 two, three and four-bedroom residences across two 15-storey residential towers, complete with world class amenities and connectivity to Brisbane’s pedestrian bridges. Gaia means ‘connected to nature’ and it will deliver the inner city’s largest private parkland featuring more than 20 wellness and leisure zones exclusively for residents - an unprecedented level of amenity so close to Brisbane City.

Pikos Group Chief Executive Officer, Michelle Wooldridge, said that in today’s construction market it was unique to see a residential developer forging ahead with such a considerable value of projects under construction.

“Gaia is the second project we have commenced construction in as many years, and it takes our projects under construction to circa $1 billion,” Ms Wooldridge said. 

“With today’s construction challenges, we are seeing large numbers of residential projects shelved and delayed until the construction challenges dissipate. We are really proud of the fact that we are able to buck the trend, convert our projects into construction, and deliver much needed new housing supply for Brisbane.

“To be able to break ground on a project of this scale, in such challenging market conditions, is a testament to Pikos Group’s experience and trusted partnerships, built over 35 years.” 

Pikos has teamed up with the Mastrocostas family (one of the top 25 builders in Australia who have been embedded in south-east Queensland’s construction industry for a quarter of a century), to deliver Gaia. 

“Between the Pikos and Mastrocostas families, there is a 25-year intergenerational friendship that has allowed us to partner and deliver Gaia,” Ms Wooldridge said. 

“Having two prominent development families come together amidst the ongoing challenges in Australia’s property sector is evidence of the extraordinary lengths required to deliver projects in today’s environment.” 

As a result of the partnership, newly formed company M2M Constructions has been charged with delivering Gaia to the same high-end standard synonymous with Pikos Group. Ms Wooldridge said the site’s connection to the Brisbane CBD and beyond will appeal to buyers.

“The site itself is an incredibly tranquil and quiet pocket, which captures one of the Brisbane River’s widest aspects as it bends around New Farm,” she said. 

“With the completion of the city's newest green bridge, the Kangaroo Point peninsula will enjoy enhanced connectivity, providing effortless walking access to Brisbane CBD while maintaining its peaceful, secluded atmosphere.”

Designed by the acclaimed DKO architecture studio, both residential towers at Gaia have been oriented to capture sweeping views of the city and river, with all apartments featuring luxury internal finishes of natural stone, timber flooring and premium appliances. 

Additional amenities include an indoor/outdoor gym, rooftop entertaining spaces, garden workshop, yoga lawn, outdoor cinema, private dining room, and work from home lounge. Gaia is Pikos Group’s second Kangaroo Point development, following the launch of the ultra-luxe Skye by Pikos under construction at River Terrace.

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