Graya reaches $80m in pre-sales for Gold Coast tower the Enclave
A luxury development on the Gold Coast has managed to bank $80m in sales even before hitting the market.
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A development on the Gold Coast has managed to bank $80m in sales before hitting the market, in a sign of continued strength of the luxury end of the lifestyle market.
Southeast Queensland developer Graya has sold half the apartments within its $150m project, Enclave in Broadbeach, with all buyers coming from its network of former clients and people who have approached the group directly.
The founders of Graya, brothers Rob and Andrew Gray, said Enclave’s rich range of exclusive wellness amenities and the opportunity to secure whole-floor residences was an attractive proposition.
“The results we’ve already seen so far at Enclave underpin the confidence we have in this type of product – larger residences with incredible wellness amenities and the certainty of delivery,” Andrew Gray said. “We work really closely with our Graya Circle members, ensuring they have first access to the best new residences available in Australia.”
Positioned at 118 Old Burleigh Road at Broadbeach, Enclave is within walking distance of the ocean. It will feature eight 140sq m-160sq m half-floor residences, which have already been purchased, as well as 15 full-floor apartments covering 305sq m. A central focus of the project has been wellness, rejuvenation and tranquillity, with all owners to benefit from the bathhouse-style health and wellness space that Graya claims will “rival the most exclusive wellness clubs”.
A steam room, sauna, hot and cold plunge pools, and hydrotherapy spa will be included, as well as a treatment room offering typical services such as massages and facials, as well as IV drip treatments and acupuncture. The on-site concierge can also co-ordinate anything from private chefs and a sommelier to personal trainers and surf sessions.
Seven full-floor skyhome residences are still available with a starting price of $6.2m. All the apartments on offer feature three bedrooms, each with an ensuite, as well as a second living space that can be converted into a fourth bedroom. The open-plan kitchen, living and dining space flows out onto a 40sq m balcony with protected ocean views, with the sand accessible with direct lift access into the secure private lobby.
The sole three-level penthouse will be released in the coming weeks, and is expected to sell for more than $25m.
The project will be marketed by agency Whitefox Projects. Construction is slated to begin in June.
Both the Gray brothers have purchased a property within the tower.
“We’re incredibly proud of the strong results we’ve seen so far at Enclave and look forward to commencing construction on site as we expand our footprint in our home state,” Rob Gray said.
Graya originally began as a house-flipping team, before it turned into luxury home developer, before switching focus again and moving into the high-end apartment development.
Since its beginnings in 2012, the developer has expanded to deliver projects from start to finish with its in-house architect and building teams, which Andrew Gray believes sets the pair’s offering apart from others in the market.
It started the year with a $328m pipeline of work.
Tennis superstar Ash Barty is one of the buyers within the developer’s 12-storey tower called Kloud at Palm Beach on the Gold Coast, securing the four-bedroom half-floor residence for $4m.
In December, a Brisbane penthouse owner paid $8m for an off-the-plan duplex that Graya is developing along the prestigious Hedges Avenue in Mermaid Beach within 24 hours of the duplex hitting the market. Residential prices are also more expensive on the Gold Coast compared with Brisbane.
In recent years, the company has shifted its focus from Brisbane to the Gold Coast due to the lifestyle region’s increased appetite for development.
Last year, the Gold Coast surpassed Brisbane to become the nation’s second most expensive housing market behind Sydney.
Originally published as Graya reaches $80m in pre-sales for Gold Coast tower the Enclave
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