Brisbane-based developer Graya has splashed circa $25 million on a rare Byron Bay beachfront site with plans to build a one-of-a-kind trophy home.
The 2000 sqm, absolute beachfront block is in Border Street on Belongil Beach, which is fast becoming billionaire’s row given its high-profile residents include Harvey Norman heir Glen Norman, Lorna Jane, Justin Hemmes, and Michael Malouf of The Calile Hotel fame.
RELATED: Byron Bay investor/developer Adam Garrison lists Belongil beachfront for $22m+
The property was owned by Byron Bay investor and developer Adam Garrisson and currently has a contemporary ‘pod home’ on the land, but has DA-approved plans to build a five-bedroom house.
This 2002 sqm beachfront block on Belongil Beach has sold for $25m. Image supplied.
Andrew and Rob Gray of Graya. Image supplied.
The design incorporates an extensive health and fitness wing, with a designer swimming pool.
Graya Rob Gray said he and brother, Andrew, planned to build and sell the house to be called ‘Waterlily’, but retain some of the land for themselves.
“We are very excited to secure what we believe is the finest residential site in Byron Bay and potently Australia’s eastern coastline,” Mr Gray said.
“We have spent 15 years mastering luxury homes and we require only the finest blocks to deliver our vision.
This beachfront block on Belongil Beach has sold for $25m to Brisbane-based developer, Graya. Image supplied.
The block has views of Cape Byron Light House. Image supplied.
“Andrew and I plan on delivering a luxury home on the site and retain some land for our family’s future. There isn’t much absolute beachfront anymore and you can’t beat it.”
The block is next to the mansion owned by property developer, Shane Smollen, and his wife Rebecca, which is currently on the market for offers in the range of $35m.
It offers a huge stretch of green grass leading down to the sand and there are north-easterly views to Cape Byron Lighthouse.
This 2002 sqm beachfront block on Belongil Beach has sold for $25m. Image supplied.
Selling agent Sean Cussell of Christies International Real Estate Australia negotiated the sale.
Graya just won Australian Property Developer of the Year at The Urban Developer awards in Sydney and are fast developing their pipeline of multi-residential projects across southeast Queensland.
Their celebrity clients include rapper, Example, former Wallabies player Stephen Moore, and former Broncos captain, Darius Boyd.
Belongil Beach has been nicknamed ‘billionaire’s row’ for its high-profile residents. Image supplied.
Records show the Garrison property was bought a decade ago for $2.25m.
While demand for top-end property has never been stronger in the Byron region, agents say lower-priced property has been struggling.
PropTrack data shows the median house price has fallen by almost 20 per cent to $2.5m.
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