ResidentialLindsay SaundersThu 17 Sep 26
Graya’s $102m Gallery Sales Fuel Hamilton Development Surge
The reputation of Hamilton’s Racecourse Road as one of Brisbane’s most active luxury development corridors has lifted again after developer Graya revealed it has topped $100 million in sales for The Gallery project.
The River City-based developer and builder founded by brother Rob and Andrew in 2012 said it had sold 25 of the development’s 48 apartments for more than $102 million.
The six-level project on a 3612sq m site amalgamated from 17 blocks has 150m of frontage to Racecourse Road. Construction began in June and completion is expected in 2028.
Graya’s includes eight ground-floor retail and dining tenancies beneath the residences—the developer will retain the retail and is now looking for operators across dining, hospitality, retail and lifestyle tenancies.
The Gallery was designed by Brisbane practice Bureau Proberts for the site about 7km north-east of the CBD.
The sales result comes as a wave of new residential and mixed-use projects moves into the suburb, alongside a major transformation under way at Northshore Hamilton ahead of the 2032 Olympic and Paralympic Games.
The Queensland Government this month revealed plans for almost 2200 homes across five sites at Northshore Hamilton, along with 21,600sq m of retail and commercial space and a 50-bed hotel.
The 6.1ha precinct will also receive $154 million of new roads, sewer and water infrastructure.
Graya is among the developers selected to deliver projects at Northshore, with its site planned to include about 435 homes, a 50-bed hotel and retail and commercial space.
The Northshore development follows the state’s decision to reposition the precinct after abandoning plans for the Brisbane Olympic athletes’ village at the site.
Other projects are adding to the development pipeline around Racecourse Road.
Wentworth Equities is developing Hamilton Grove, with its first release comprising 35 apartments priced from $1 million to $4 million.
The first of three planned towers is to include 61 large-format apartments and ground-floor retail and hospitality space.
Fortis is planning a 12-home project at 53 Racecourse Road, including 528sq m of ground-floor retail space, while at 77 Racecourse Road, The Windermere is nearing completion with 36 apartments.
The concentration of projects is changing the development profile of a suburb traditionally defined by established housing, Racecourse Road retail, the river and its proximity to the CBD.
Graya chief executive Rob Gray said the $102 million sales result showed buyers were responding to Hamilton’s future growth.
“Passing $102 million before we had even finished demolition is a serious result,” Gray said.
Development director Shaun Mets said the retail component would be treated as a single precinct rather than leased independently.
“We are thinking about the whole ground plane at once,” Mets said.
The project is another step in Graya’s expansion from apartment development into mixed-use and retail projects, following its work in Brisbane’s James Street precinct. The company has developed projects including Maison, Chalk and York ar New Farm, Canvas at Bulimba and Kloud at Palm Beach.
