Exclusive: Graya set apartment record with Canvas Bulimba penthouse sale
Luxury home builder turned apartment developer Graya has set a new apartment record in the affluent Brisbane riverfront suburb of Bulimba.
They've secured the highest price paid for a non-riverfront apartment at their Canvas Bulimba project. The 185 sqm space, which features its own rooftop terrace, sold for $3.5 million through project marketing agency MOTIV.
The four-bedroom apartment which has city views from the terrace which features its own pool and entertaining area, is one of three penthouses within the luxury low-rise development under construction on Love Street.
The penthouse was acquired by a relative of a current Love Street resident to utilise as a secondary home when visiting Brisbane.
Graya co-founder and Managing Director, Rob Gray, says that while Bulimba is one of Brisbane's best suburbs, it's the architecture and lifestyle offering that makes Canvas so exceptional.
“Its design has been curated by bureau^proberts and blends elements of Singaporean, subtropical architecture with fluted concrete, converging curves and dense greenery," Gray says.
“This has resonated strongly with the market, delivering exceptional architecture and the same level of space as a large family home alongside low maintenance, luxury lifestyle amenities.
”Local rightsizers and downsizers already account for more than 70 per cent of purchasers at Canvas, with only two developer-held apartments remaining for release.”
Graya was established in Brisbane in 2010 as a luxury home builder by brothers Rob and Andrew Gray. Three years ago, the company broadened its focus from high-end homes to high-end apartments, delivering the award-winning Maison in New Farm with Frank Developments in 2022.
Today, the company is a full-service design, development and construction business with more than 35 employees across its Brisbane and Gold Coast projects.
“Being the developer and the builder is a definite advantage in this market,” Gray added.
“We’ve been able to navigate the market challenges as a team, carefully manage costs, and instil confidence in our buyers that we have the capacity to deliver the project to the highest standard.
“Construction of Canvas is now well advanced, with completion scheduled in Q4 2023.”
The final penthouse within Canvas will be launched to the market in the coming weeks by MOTIV Group.
Founder and Chief Executive of MOTV Group, Carly Cottam, said the appetite of high-net worth buyers in Brisbane’s affluent inner-suburbs has showed no signs of slowing in 2023.
“There’s simply not enough luxury property in Brisbane to meet demand,” Cottam said.
“High-net worth individuals are seeking location, lifestyle, craftsmanship and a low-maintenance, lock up and leave solution – a combination Graya has mastered.
“This is best evidenced by the recent $4.85 million resale of an apartment at their Maison project in New Farm, representing an uplift in price of $1.25 million.
“Like Maison, Canvas will deliver enduring value through its location, architecture and build quality.
“Nothing of this standard exists in Bulimba. Until now.”
