Graya buys another Palm Beach block
Graya has quietly snapped up a Gold Coast site beside one it bought in February – to expand a proposed luxury apartment project.
The latest parcel on Jefferson Lane, Palm Beach, set it back $12 million.
It comes four months since the Brisbane based developer led by Rob Gray paid $23.5m for the 814 square metre double-beachfront block next door, offered by Ryan Stokes, son of billionaire media and mining executive, Kerry, permit-ready for a nine level building, Akuna.
In April, Graya submitted plans to replace that block (39-41 Jefferson Ln) with 12 dwellings – branded Coral.
With the new site – the amalgamation spans 1225 sqm with 35m beach frontage – 16 apartments are planned (continues below).
The height won’t change.
Mr Stokes paid $8m for his sites between 2016 and 2021.
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