GRAYA lodges DA for $100m Coral Palm Beach

GRAYA has lodged a development application for a $100 million beachfront project on Palm Beach’s tightly held Jefferson Lane, marking one of the most significant new proposals for the Gold Coast’s open coastline. 

The apartment building at 39-41 Jefferson Lane, Palm Beach, is designed by internationally acclaimed Koichi Takada Architects, and will bring a new level of high-end, design-led living to one of the last remaining absolute beachfront sites in the suburb.

Coral will have up to 12 apartments, across 9 levels. The site occupies a position that speaks for itself. Absolute ocean frontage. Direct sand access. No road crossing, no foreshore reserve, no separation between the building and the Pacific. 

It is the kind of beachfront address that defines a suburb, and on Jefferson Lane, there are almost none left.

GRAYA acquired the 814-square-metre double block from billionaire media heir Ryan Stokes in March 2026 for $23.5 million, reflecting a rate of $28,869 per square metre. 

That figure set a new benchmark for Palm Beach and placed the transaction alongside the Gold Coast’s most tightly held beachfront precincts.

The appointment of Koichi Takada Architects extends an existing collaboration between the two firms. 

GRAYA has already commissioned Takada for the recently approved ‘The Pavilion’ on James Street, and the partnership on Coral represents a deepening of that relationship on a site of genuine coastal significance.

Takada’s practice has earned global recognition for projects including Norfolk in Burleigh Heads, and award-winning work across Tokyo, Sydney and Los Angeles. 

His organic design philosophy, rooted in natural form and environmental response, has never been applied to an absolute beachfront position. Coral changes that.

“Jefferson Lane is one of those rare sites where the environment does the work. 

"The proximity to the ocean, the quality of the light, the openness of the coastline. 

"Our role is to design a building that belongs here. 

"Coral should feel as though it grew from this landscape, not as though it was placed on it,” said founder of Koichi Takada Architects, Koichi Takada.

“Our relationship with Koichi began with Pavilion, and from that first conversation we knew Jefferson Lane was a site he had to be part of. 

"This is absolute beachfront on one of the Gold Coast’s finest stretches of sand.

 "It required an architect who understands that the ocean is the architecture. 

"Koichi sees that instinctively,” said co-founder and director of GRAYA, Rob Gray. 

The submitted design delivers a boutique collection of residences across nine levels, with no more than 12 apartments in total. 

Generous proportions, direct ocean frontage from every residence and the sense of scale and privacy typically associated with a private home define the product. 

The building has been designed around its position on the sand, with living spaces oriented to maximise the relationship between interior and ocean.

Palm Beach has undergone a considered transformation over the past decade. 

The village character, the national park to the south and the walkable foreshore have positioned the suburb as one of the Gold Coast’s most desirable coastal addresses. 

Jefferson Lane, directly on the sand, is its most coveted position. 

GRAYA’s presence on Jefferson Lane is already established.

Kloud Palm Beach completed and sold out in December 2024, delivered $77.6 million in sales across 23 residences,
including a penthouse sold during construction for $9.1 million. 

Buyers included tennis champion Ash Barty. 

Coral occupies a superior site with absolute frontage and a larger land parcel. The product has been conceived at a level above what Kloud delivered.

“Kloud proved the depth of demand for premium product on Jefferson Lane. 

"Coral takes everything we learned and applies it to a finer site, a more refined product and an architect whose vision matches the ambition of the position. 

"Beachfront residences of this quality do not exist on the Gold Coast. 

"That is what Coral will deliver,” said co-founder and director of GRAYA, Andrew Gray.

Coral is expected to comprise residences priced from $5 million to more than $10 million. 

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 completion of the design development phase with Koichi Takada Architects.

For more off-the-plan property news, click here.