Construction To Start On $150M Chevron Island Development
WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied
Prolific Gold Coast private developer Aniko Group is set to break ground on its next project, the $150 million Orama apartments at Chevron Island.
Orama is the latest in a project portfolio of more than $2 billion by the George Mastrocostas-led Aniko Group.
Aniko has switched its attention to the central Gold Coast suburb of Chevron Island after completing the largest suburb transformation of Hope Island where the company has all but sold out more than $500 million of residential apartment and townhouse product.
Once complete, Orama will comprise 102 residences and include two-bedroom apartments from $995,000 to $1.45m and a range of three-bedroom skyhomes from $1.995m, offering panoramic views over the central Gold Coast skyline.
The project is targeting local downsizers and interstate migrators and is well on its way to a successful sellout.
“We are thrilled with the take-up of Orama which has been highly competitively priced and offers some of the best quality amenities of any project in the precinct,” said Aniko Group Managing Director George Mastrocostas.
“Nothing has been an afterthought, from the quality of the apartments themselves to the 550sqm rooftop recreation area comprising of a gymnasium, pool, spa, residents lounge and a host of other amenities.”
The completion of Aniko’s inner Hope Island developments – the culmination of 5 years of development transforming inner Hope Island – has been the trigger for the beginning of construction at Chevron Island.
“We’ve been able to redeploy our construction teams after what has been an amazing five-year journey in which we have successfully sold and built some 630 new residential dwellings in Hope Island,” said Mr Mastrocostas.
“Our Hope Island experience has allowed us to accelerate our brand awareness out of the Gold Coast and we are certainly excited about delivering Orama to new customers.”
Construction gets underway in November and will take approximately 18 months to build with completion scheduled for early 2025.
Mr Mastrocostas said the project had achieved almost $100 million in unconditional sales since its launch to the market earlier this year.
He said some buyers had sold in existing Chevron Island projects or had come from other projects that had yet to proceed.
Aniko Group is also planning one of the largest transformative projects on the central Gold Coast with its proposed $2 billion Seaview master planned precinct at Mermaid Beach currently before council.