Up-and-coming Queensland developers Rob and Andrew Gray are hoping to cash in on strong demand for large, luxury apartments on the Gold Coast after securing a planning permit for a 23-storey tower with just 24 apartments and a Tesla car share.

The $140 million development less than a block from the beach is the tallest to date by the brothers’ development and construction firm Graya, which last year expanded interstate when it snapped up a beachfront block in the exclusive Byron Bay enclave of Belongil Beach for about $25 million.