Brisbane’s affluent inner-east continues to record strong prestige sales results, with a penthouse in Graya’s new Canvas development in Bulimba selling off the plan for $3.5 million.

The four-bedroom residence, which spans over 185 sqm internally and features its own rooftop terrace with sweeping city views, pool, sun deck and entertaining area, is one of three penthouses within the luxury low-rise development under construction on Love Street in Bulimba. The penthouse was acquired by a relative of a current Love Street resident to utilise as a secondary home when visiting Brisbane, highlighting the pent up demand within the local market.

Graya co-founder and Managing Director, Rob Gray, said the purchase has set a record for nonriverfront apartment sales in Bulimba. “Bulimba is one of Brisbane’s best suburbs, but what makes Canvas so exceptional is its architecture and lifestyle offering,” Mr Gray said. “Its design has been curated by bureau^proberts and blends elements of Singaporean, subtropical architecture with fluted concrete, converging curves and dense greenery.

“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,” Mr Gray said. “We’ve been able to navigate the market challenges as a team, carefully manage costs, and instill 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 boutique sales and marketing agency MOTIV Group.

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