Brisbane developer Keylin Group has purchased a large-scale masterplanned estate in Hope Island, located on the Gold Coast’s northern corridor, for $50 million.
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In Hope Island, a development application for 348 retirement apartments spanning five eight-level buildings was lodged for the former Village Square Market Place site at Sickle Avenue earlier this year, which sold for $17 million.
Nearby, Gold Coast developer Aniko Group, led by George Mastrocostas, has recently kicked off construction on its $140 million No. 1 Grant Avenue project.
Aniko’s project will deliver 210 apartments on the 8390sq m waterfront site.
Aniko acquired the Hope Island site for $4 million in December 2017.
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Originally published by The Urban Developer
Article by DINAH LEWIS BOUCHER, October 17, 2019
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