Aniko Group has ramped up plans for a landmark $1.5 billion lifestyle and commercial development project at Mermaid Beach on the Gold Coast.  

The group lodged a development application with the City of Gold Coast to create a new destination precinct at the 1.1-hectare site on the corner of the Gold Coast Highway and Seaside Avenue. 

Under the plan, the project will comprise four towers of 25, 30, 40 and 53 levels, and will see the creation of a mixed-use development comprising residential apartments, a luxury hotel, offices, and a food, beverage, and retail vicinity.   

The project will feature 973 apartments with one to three bedrooms, as well as a collection of three-bedroom-plus-study sky homes, sub-penthouses and penthouses. 

The apartments will range in size from 60 sqm for one-bedroom apartments to more than 500 sqm for penthouses. 

“With the support of GCCC, we intend to reinvigorate the existing Pacific Fair Drive with retail, food and beverage tenancies which will invite and encourage pedestrian movement along our site and towards the canal edge,” Aniko Group managing director George Mastrocostas said.

An expansive recreation podium will service all four towers, offering a central resort-style lagoon pool, separate lap pool, sauna, steam room and a large gym. 

The mixed-use development will also include more than 10,000 sqm of commercial A-grade office space, bolstering supply in a tightening Gold Coast office market. 

“The inclusion of a commercial component to the project will create a local hub for a range of businesses and services located within walking distance to accessible public transport,” Mastrocostas said.  

The group plans to deliver the project in four purposely individual stages over the next six years. 

“Pending council approvals, we plan to launch the first stage in late 2023 and we are expecting to welcome our first residents by 2025,” Mastrocostas said.  

The first stage will comprise the 30-level tower with 175 apartments offering one-, two- and three-bedroom layouts.