It’s been a massive few months for brothers Rob and Andrew Gray, the duo behind Teneriffe-based luxury builder-developer GRAYA.
The penthouse in their JV project with Frank Developments on Moray Street New Farm, “Maison”, recently re-sold to the owner of the sub-penthouse pro golfer Cameron Smith for $10 million without hitting the market.
The off-market sale set a new benchmark for the city’s booming non-riverfront prestige apartment market, achieving about $47,000 per square metre.
Their “Palma” project at 29 Towers Street Ascot sold for a figure believed to be around $8.8 million and the pair launched the 1,012 square metre “Sky Home” penthouse atop their Enclave development in Broadbeach with a price tag of $26.5 million.
Even the RSL Dream Home Art Union has put their faith in the GRAYA brand by purchasing their Burleigh Heads “Dune” project for their current art union.
Current projects include a new home dubbed “Lilypad” on a half-acre site in Byron Bay’s glamour strip at Belongil Beach. The brothers paid $25 million for the land alone and the completed build will likely have a price tag between the high forties to $50 million plus.
Rob’s background in cabinetry pairs well with Andrew’s expertise as an estimator as GRAYA’s “secret sauce” certainly seems to be the combination of an eye for detail, great design, and carefully curating their brand around quality and the long-term experience of their occupants.
To achieve this, Rob emphasizes the importance of maintaining an in-house team of architects, interior designers, and a full construction team – “this allows us greater control over quality and availability”.
Sadly though, the single home projects that GRAYA cut their teeth on will soon come to an end as the brothers recently announced their transition to focus purely on apartment developments.
One of those developments, “The Gallery” at 63-71 Racecourse Road, Hamilton, recently gained DA approval and comprises 37 two- and three-bedroom apartments above a 1380m2 retail hub designed by architecture studio bureau^proberts.
With a full development and construction program for the few years ahead, the Gray brothers are pushing their limits, ensuring each development surpasses the last.
“It’s exciting and daunting,” Rob concludes, hinting at a promising path ahead for GRAYA.
