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Brisbane-based luxury developer Graya, led by young entrepreneurs Rob and Andrew Gray, is banking on repeating the success of an earlier development at New Farm with its latest project targeting one of the inner-city suburb’s ritziest addresses.
Graya has homed in on Moray Street, where it previously developed the award-winning Maison in 2021, for its next development, the $32 million project named Chalk.
The low-rise development has secured planning approval by the Brisbane City Council to deliver 10 premium two and three-bedroom apartments. Graya says the project is designed to meet 'pent-up demand' from ‘downsizers, right-sizers and professionals’ looking to be close to Brisbane's riverfront.
Graya has designed Chalk to appeal to owner-occupiers by creating ‘large, liveable’ apartments in a street that is known for elegant, elevated homes offering sought-after city views.
“New Farm is one of Brisbane’s most affluent and tightly held suburbs, so opportunities like Chalk are rare and require a distinctive architectural response,” Graya director Rob Gray says.
“Chalk fills a gap in the inner-city market for high-end apartments where people can transition from the traditional family home and still enjoy large, liveable spaces and amenities that meet all their lifestyle needs.”
Chalk will be officially launched to the market in May as Graya continues construction of its current project, Canvas, which is expected to be completed later this year. Canvas set a sales record of $3.5 million for the riverside suburb of Bulimba following the sale of one of its penthouses - the highest price paid in Bulimba for a non-riverfront apartment.
Graya, an integrated development company, drew on the talents of its in-house team to design Chalk for the New Farm site.
Chalk’s design is aimed at enhancing views of the city skyline, while residents will have access to rooftop amenities such as a resort-style pool and landscaped alfresco dining area.
“Being the designer, developer and the builder also gives us the advantage of mobilising on site quickly and efficiently, and ensuring the finished product surpasses all expectations," Graya director Andrew Gray says.
Graya has announced that preliminary works have begun for Chalk, with completion expected in mid-2024.
The company, which was founded in 2012 developing luxury houses before turning its hand to boutique apartment projects, has grown its development portfolio to $200 million over the past decade in Brisbane and the Gold Coast.
The pace of growth has stepped up for Graya over the past four years since focusing on developing high-end residential apartments in southeast Queensland where its current active portfolio also includes York at New Farm and Kloud and Ripple, both at Palm Beach on the Gold Coast.
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