Developer Rob Gray gives up Paddington dream home for $8.2m

A leading Brisbane developer has offloaded his luxury Paddington home to a prospective client in order to set down roots on the Gold Coast.

Brisbane developer Rob Gray has sold his Paddington home called Arcos for $8.2m. Picture: Graya

A leading Brisbane developer has offloaded his luxury home to a prospective client in order to set down roots on the Gold Coast.

One of the founding brothers behind design and construction company Graya, Rob Gray, unexpectedly sold his Paddington home last month in an $8.2m deal.

The local buyer had been walking through the pre-war Queenslander-turned-Spanish revival-inspired home in order to check out the quality of Graya’s finishes and instead fell in love with the home.

The living room of Arcos. Picture: Graya

It’s dubbed Arcos (Spanish for arches) in reference to the prominent curved edges that feature in the facade and interiors. Architect Joe Adsett used rendered concrete and natural tones are used throughout to reflect a Mediterranean style.

Luckily for the buyer, Gray and his wife Meghan had already begun considering giving up the home the brothers built after securing an ocean view property at Burleigh Heads.

“We were pretty keen on living at the Gold Coast and now is the time,” Gray said.

“The scarcity of luxury property is at an all time low; therefore, prices are only going up.”

Cohen Handler managing director Jordan Navybox and brother James represented the buyer to reach the agreement.

“Whilst $8.2m was one of Paddington’s highest sales, it is representative of how much demand Brisbane's prestige market has right now,” Jordan Navybox said.

A smaller version of Brisbane’s $12m Gucci house is on the market in Holland Park. Picture: Brock Beazley Photograph

Recent analysis by Ray White found a record number of luxury houses had sold for more than $10m and apartments for more than $3m in 2022, despite softening prices.

Place Kangaroo Point agent Michael Bacon said rising interest rates had done little to quell activity in the top end, with the biggest change in recent months being the time it takes for a home to sell.

“People are taking more time to make a decision, which is fair enough – it’s more normalised,” Bacon said.

A smaller version of one of this year's biggest deals, the waterfront Gucci House at Norman Park, has just hit the market in suburban Holland Park.

A smaller version of Brisbane’s $12m Gucci house has already had more than 160 people through its door in the first week of inspections. Picture: Brock Beazley Photography

Carrying the same black-and-stone characteristics and striking styling, 8 Odessa St has already had more than 160 people through its door in the first week of inspections.

The three-level home, built by CHS Builders, features five bedrooms and separate entertaining zones, including a swimming pool, gym and home theatre. A six-car garage is hidden below.

While the original Gucci house was for a specific buyer, Bacon said the baby version’s marble floors, high ceilings, full-height glass and terrazzo tiles would appeal to a larger group of buyers.

Odessa St will go to auction on November 13. No price guide is available.