GRAYA doubles down on Jefferson Lane, buying the block next door

Three months after paying $23.5 million for a slice of Jefferson Lane, GRAYA has spent another $12 million to secure the block next door, resulting in a 1,225-square-metre site with more than 35 metres of absolute beach frontage - and homes with significantly more of the Pacific Ocean to themselves.

Coral holds 16 residences across nine levels, which remains a small collection given the frontage now on offer. The additional space goes into the homes, allowing for larger floor plates and more generous proportions, with a wider relationship to the water for every apartment.

The expanded site holds a rare width of absolute beach frontage on the open Gold Coast coastline, with direct sand access and nothing between the building and the Pacific.

Originally acquiring the 814-square-metre block from billionaire media heir Ryan Stokes in March 2026 for $23.5 million, this adjoining acquisition brings the combined investment to $35.5 million.

What the larger site delivers

Coral remains a boutique building of 16 residences across nine levels. Every apartment holds direct ocean frontage. The additional land widens the building’s relationship with the beach and carries amenity the original footprint could not.

A rooftop communal space gives residents an elevated outlook over the ocean - with a pool, spa, gym, sauna and outdoor dining area. Two residences on the lower level open directly onto the sand, each with a private pool and yard. Living spaces hold their orientation to the water, with the scale and privacy of a private home.

The expanded footprint allows for two residences per floor across most levels - each with a generous square configuration that gives the proportions of a full-floor apartment.

Koichi Takada Architects has carried the original design language into the larger scheme. The organic form and environmental response of the first design remain, applied across a wider frontage.

“We bought the site next door to give the residences room to breathe," said Rob Gray, co-founder and chief executive officer of GRAYA.

"Coral stays a small building on a finer site, with larger homes and more of the coastline for each one. 

"That is the development we want to deliver on Jefferson Lane.”

Koichi Takada on the expanded site

With the adjoining site secured, Koichi Takada Architects will now design Coral across both parcels. The wider footprint lets the practice extend its organic, environmentally responsive language across more than 35 metres of frontage, giving each residence a broader relationship with the water.

“Designing across both sites lets Coral hold more of the coastline," said Koichi Takada Architects founder Koichi Takada.

"The building can sit more generously on the sand, and every residence opens further to the Pacific. 

"The intent is for it to feel like it belongs here, shaped by the ocean it faces and earning its place on the shoreline.”

The site and the suburb

The building has been designed around its position on the sand, with living spaces oriented to the ocean.

Jefferson Lane sits within a suburb that has shifted considerably over the past decade. The walkable foreshore, the national park to the south and the village character of Palm Beach. The lane itself, directly on the sand, holds a position in the suburb that cannot be replicated.

GRAYA on the Gold Coast

GRAYA’s presence on the Gold Coast continues to grow. Enclave Broadbeach is under construction.

GRAYA’s record on Jefferson Lane is established. Kloud, the firm’s first project on the street, sold out ahead of completion at $77.6 million. Coral now sits on a larger parcel with wider absolute frontage, on a finer site than Kloud held.

Coral has attracted more inbound interest than any other project currently in GRAYA’s pipeline. Demand from buyers seeking absolute beachfront product on Jefferson Lane has been significant since Kloud completed.

“Kloud proved the depth of demand for premium product on Jefferson Lane," said GRAYA co-founder and director Andrew Gray.

"The adjoining purchase lets us hold more of the beach and put that space into the homes. 

"The result is a boutique collection with a wider frontage, a rooftop over the coastline and two residences that step straight onto the sand. 

"We want to respect the site and give our residents something increasingly rare.”

A staged release strategy will be confirmed in the coming months, with priority access extended to qualified registrants ahead of any public campaign.

Construction timing will be confirmed following receipt of the Development Approval and completion of the design development phase with Koichi Takada Architects.

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