This article is from the Australian Property Journal archive
QUEENSLAND-based developer Graya is expanding its footprint, gaining planning approval for a $140 million tower with 24 large-scale beachside residences and a high-end wellness experience in Broadbeach.
Headlining the project is a three-storey penthouse which is expected to smash local records with a price point tipped to be north of $25 million.
The 23-storey building at 118 Old Burleigh Road, to be known as Enclave, will feature eight half-floor residences ranging from 138 sqm to 160 sqm and 15 full-floor residences at 305 sqm.
Enclave’s residents will have access to a whole-floor bathhouse-style health and wellness space on level one, complete with hot and cold plunge, steam room and sauna, gym, treatment room, hydrotherapy spa, mineral water pool, and daybeds.
Treatments available at Enclave’s wellness space include massage, acupuncture, dry needling, and IV drip treatments.
Residents’ services will extend to a concierge, car wash, personal training, facials, Tesla car share exclusive to Enclave, and a private sommelier.
Enclave is set to be the tallest tower within Graya’s portfolio. Led by brothers Rob and Andrew Gray, the developer has completed close to 100 projects across its 12-year history, and now boasts a pipeline of work in the realm of $1 billion.
Its most recent projects in the sunshine state include Maison, Chalk and York in New Farm, Canvas in Bulimba and Dune in Burleigh Heads, which sold to fitness influencer Adam Sullivan for $11 million in October.
“Enclave will cater to the growing global demand for holistic wellness and longevity, and will provide residents with services and equipment that you’d only find at the world’s most exclusive wellness clubs,” Rob Gray said.
Graya touted “certainty of delivery” as a point of difference in the Queensland market, with its multi-disciplinary team delivering projects end-to-end, with architects, developers and builders working in-house and ensuring projects are delivered on schedule.
“Construction prices remain a key challenge across southeast Queensland, and we know that a strong track record of delivery is a huge confidence booster for purchasers looking at residences of this calibre and value,” Rob Gray said.
The Gold Coast’s apartment market will continue to experience an undersupply unless companies embrace the developer-builder model in greater numbers, according to Charter Keck Cramer.
Sydney interior design practice Tom Mark Henry will curate the interior spaces within Enclave.
WhiteFox Projects has been appointed to lead the sales campaign for Enclave, with the launch expected in second quarter of this year.
Elsewhere on the Gold Coast, David Devine’s DD Living has just appointed Gowdie Management Group as the builder to deliver its $535 million luxury residential apartment tower on the beachfront at North Burleigh, which will have 101 apartments across 25 levels; while Odus and builder Nazero have launched their $140 million La Mer tower at Main Beach Village, offering full-floor luxury apartments.
Around 1,000 apartments were launched on the glitter strip in FY24 with an additional 1,100 apartments commencing construction, Charter Keck Cramer data shows. Numbers for both launches and commencements have come off their respective peaks in 2022 and 2023 as the market moderated, despite ongoing demand from seachangers, treechangers, and rightsizers.
