Exclusive: GRAYA get green light for Canvas, luxury Bulimba apartments
The luxury home builder and now residential apartment developer, Graya, has been given the green light to push on with its second high-end residential project in Brisbane's inner-ring.
They'll soon be launching Canvas, a collection of just 21 two, three and four-bedroom apartments in the sought-after riverfront suburb of Bulimba.
Speaking recently to Urban, Rob Gray, who with brother Andrew founded Graya in 2013, said they were attracted to the Love Street site given its proximity to the Oxford Street lifestyle precinct.
Gray said the three-level zoning allowed them to create something more affordable than what they usually create in the trophy home space.
"We saw value in being able to bring something to what is one of Brisbane's top suburbs without pricing out the majority of the market as we do in the single home space," Gray said.
"Most GRAYA supporters now have a change to own one for themselves."
Canvas will home a rooftop amenity level with the standout feature the infinity pool and spa. The rooftop offers views back to the Brisbane CBD.
Graya has a long-line of prestige home builds to their name, setting a number of street and suburb records in the last few years.
But the move to multi-res was on the cards from day one.
"We always wanted to go into multi-res, it was just a case of timing," Gray said. The team have been building around 12 luxury houses a year in some of Brisbane's best suburbs.
Their first multi-res project, Maison in New Farm, was just five luxury full-floor apartments that all sold off the plan with an average price of $3.2 million, with sales ranging between $2.8 million and $4.3 million.
Gray says buyers at Canvas should have confidence in the resale value of the Graya product. A Maison apartment that sold off the plan for $2.9 million in 2020 resold earlier this year for $5 million.
Gray adds that, in the current uncertain times regarding the problematic construction industry, those developers who also build their project, are ultimately going to deliver.
"There will be a real shortage of supply in the coming years, with developers who also build not facing the same types of challenges of those having to hire an external company to construct the project," Gray suggested.
"There's also the fact that as a developer and builder, it's our job to think about every facet of the development. Sometimes when the developer isn't the builder, details can be missed."
They had bureau^proberts design Canvas, with the brief to create Graya homes in the sky and create the best unit block in the suburb..
"Bureau^proberts stood out for us having nailed the luxury owner-occupier stock," Gray said, adding that their last 10 designs, which included Glasshouse, Thornton Residences, Cala Dei and Natura, have been very successful.
Graya's longstanding reputation has seen them field a number of enquiries from either past clients, or friends of past clients, who know the Graya brand and have seen first hand what they've produced over the years.
The name Canvas derives from the art world.
"We try to make every project like a work of art," Gray said, adding that the facade of Canvas was so unique, and some of the intricate details they have brought into the rest of the building, that the word Canvas was an apt name for the project.
Motiv's Carly Cottam will be handling the sales of Canvas, with launch expected in late June.
