grant ave precinct
Aniko Group has enjoyed success on its Grant Avenue projects. Image Supplied.
  • The land estate will be located at South Ripley
  • Comes as the group is enjoying success along the Gold Coast
  • Aniko has submitted plans for a new $49M townhouse estate at Hope Island

Aniko Group, which currently has a $400 million development portfolio, has announced today it has received development approval for a $52 million land estate at South Ripley, west of Brisbane near Ipswich.

The news comes as the group has also lodged plans for a $48 million luxury townhouse estate at Hope Island on the Gold Coast.

Aniko has been enjoying success along the Gold Coast such as their 1 Grant Avenue apartment project, worth $140 million, nearing sell-out status in record time.

Construction for a $130 million residential precinct project at 6-8 Sickle Avenue on Hope Island is also due to start soon.

The Group hopes to begin the townhouse development by the end of the year –  assuming council approval is received by then.

The approval at South Ripley paves the way for a 219-lot residential community, alongside a service station and convenience precinct on a 26.6-hectare site.

Aniko Group Founder, George Mastrocostas, said the proposed development’s construction is scheduled for later this year, with a due date of mid-2023, and the project will be delivered over five stages.

“This is one of south-east Queensland’s fastest-growing urban areas, and it’s also proving to be equally strong in terms of job growth, so we see a great future ahead for the project.”

“While the appeal of this region began with affordability, increasingly we are seeing more buyers choosing the western growth corridor for lifestyle. South Ripley will be a big part of this growth story and we are pleased to be part of it.”

George Mastrocostas, Aniko Group Founder

The house lots for the development average around 400sqm. The site will also include a circa 5,000sqm neighbourhood recreation park, which Mr Mastrocostas said will include surrounding greenery.

“We’ve incorporated a fairly dominant green space network within this community, in keeping with the surrounding area, the linear parks will tie in with the recreation park which has been designed to become a central focus for residents as the community grows.

“We plan to develop the recreation park in the very early stages for the immediate benefit of residents.”

George Mastrocostas, Aniko Group Founder

The Ripley Valley region’s population is expected to grow to 120,000 over the next few decades.

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