Graya Wins Approval for $150M Silk Luxury Apartments in St Lucia
Synopsis
Graya is set to transform a rare St Lucia riverfront site into a 22-residence luxury apartment development, as demand grows for larger, lower-density apartments in Brisbane’s sought-after inner-west suburbs.
Brisbane developer-builder Graya has secured development approval for Silk, a $150 million luxury riverfront apartment project in St Lucia, clearing the way for a 22-residence development positioned as one of the suburb’s major premium apartment offerings.
The project will be built on an 810-square-metre site at 16–18 Sandford Street, overlooking the Brisbane River, Orleigh Park and the CBD skyline.
The approved development will rise across 15 levels and comprise 16 split-floor residences and six full-floor residences.
Graya will design and build Silk under its single-point-of-accountability model, with the project focused on larger residences, privacy and owner-occupier living rather than high-density apartment yields.
A Rare Riverfront Opportunity
Graya co-founder and CEO Rob Gray said the development responds to demand from buyers who want to remain in Brisbane’s inner west while gaining the space and privacy associated with a private home.
“True riverfront opportunities here are exceptionally scarce,” Gray said, highlighting St Lucia’s proximity to the University of Queensland, the river, golf course and established amenities in Toowong and Indooroopilly.
Co-founder and managing director Andrew Gray said the approval also reduces execution risk for the project, with the site’s riverfront location providing strong fundamentals for premium residential demand.
Graya has experience delivering complex riverside developments, having recently completed ARC in Toowong for Spyre Group. The company said the experience of working on constrained riverfront sites will be relevant to Silk’s construction.
Graya Expands Brisbane Pipeline
The approval comes shortly after Graya announced The Silo, a $700 million mixed-use project planned for a 5,230-square-metre site in Newstead acquired for $40 million.
Silk adds to Graya’s growing pipeline, which includes Enclave, The Gallery, Coral and Ripple, alongside The Silo.
The developer expects Silk to attract local homeowners and luxury buyers seeking a permanent address in Brisbane’s inner west, where high-quality riverfront development sites remain tightly held.
Source: Business News Australia
Vishal is an experienced Editor at Inspirepreneur Magazine with key interests in artificial intelligence, eCommerce, entrepreneurship, lifestyle and startup sector. Prior to joining Inspirepreneur, he was a Content Writer cum Correspondent at Siliconindia Magazine, where he worked on Company Profiles, Cover Stories, Executive Profiles, Feature Articles and Thought Leadership content.
You Might Also Like
How Redbubble Helped Independent Artists Reach Global Customers
SpaceX Aims for $800 Billion Valuation in Share Sale
