Brisbane-based developer Graya is moving into the Gold Coast with a luxury beachfront apartment tower at Palm Beach.
Brothers Andrew and Rob Gray in partnership with Mike Walsh acquired two of the eight units in the existing brick apartment block 12 months ago for about $3 million at 2 Palm Beach Avenue, Palm Beach.
The developer has lodged plans with the Gold Coast City Council for the Plus Architecture designed Ripple, which will comprise 17 apartments and two two-storey beach houses at ground level on the 1730sq m site.
It is the Graya team’s first foray into the Gold Coast. Graya managing director Rob Gray said while some developments were being paused or mothballed on the coast, he was confident in the Palm Beach market.
“I’m feeling confident in our specific location and our product but as far as Gold Coast generally, it’s a bit shaky,” Gray said.
“We surf, but we need more practice. We wanted to have a holiday destination and that’s where that idea came from.
“We have been working collaboratively with the other unit owners during the past 12 months, and we all share a strong and united vision to deliver one of Palm Beach’s most desirable new addresses.”
Gray said each residence would have panoramic, uninhibited ocean views. It’s the first time Graya has teamed up with Plus Architecture.
“We chose [Plus Architecture] because they are on the Gold Coast and they’ve had some really successful projects on the coast and the insights they’ve gained from those projects,” he said.
“I think the most unique thing about this site is the amount of undevelopable land in front of the apartment tower.
“Most of the block is too close to the seawall, so our tower is broad and skinny (on profile). That frontage mixed with all that land means the residents have incredible beachfront views.”
Gray said there were few beachfront sites where you could develop a nine-storey tower on the Gold Coast and Palm Beach presented a unique opportunity.
“If you narrow down all the Gold Coast beaches, right now Palm Beach is amazing and it has the best future for growth.
Gray said inner-city New Farm in Brisbane would continue to be their target market but they had long-held desires to find a site on the coast.
Joint venture partner Mike Walsh said the beachfront Palm Beach site required a high-calibre development.
“The irreplaceable attributes of this site cannot be replicated when you combine its expansive frontage, which will ensure panoramic ocean views, with its absolute beachfront position—it is truly one of a kind,” Walsh said.
“The rarity of this site cannot be overstated and warrants an iconic project, which Graya and myself intend to deliver.”
The design of the building has also been heavily influenced by the beach, according to Plus Architecture’s design report, with the design aesthetics of the facade encompassing wave-like design features.
The plans also include a sauna, barbecue area and a pool overlooking the beach at ground level.