GRAYA receives approval for $160 million Coral: Koichi Takada-designed beachfront development

GRAYA has secured development approval for Coral, a nine-level, $160 million beachfront development across 36 metres of absolute ocean frontage in Queensland's Palm Beach. 

Designed by Koichi Takada Architects, Coral follows two site acquisitions totalling $35.5 million. 

GRAYA initially purchased an 814-square-metre double block from media heir Ryan Stokes for $23.5 million in March 2026, before securing the adjoining property for a further $12 million.

The second acquisition came as GRAYA was finalising its original development application.

Situated across three adjoining properties at 37, 39 and 41 Jefferson Lane, the approved Coral will occupy a 1,225-square-metre site.

With no road, public pathway or foreshore reserve separating the building from the beach, Coral occupies an increasingly rare position on the Gold Coast. 

Residents will be able to walk directly from the property onto the sand, with uninterrupted views across the Pacific Ocean.

The developer withdrew the submission and worked with Koichi Takada Architects to redesign the building across the expanded site, relodging the application within five weeks.

GRAYA co-founder Rob Gray said securing approval was a significant step for a development occupying one of the Gold Coast's most exceptional beachfront positions.

“Sites like this are almost impossible to replicate," said Rob.

"To have 36 metres of absolute ocean frontage, where you can walk straight from your home onto the sand, is an extraordinary opportunity. 

"We’re aiming to deliver some of Queensland’s finest beachfront apartments."

Rob said the design, in collaboration with Koichi Takada, allowed for larger residences.

“Once we secured the neighbouring property, we went back through the design with Koichi. 

"We decided to keep the number of dwellings and instead increase each unit frontage to 14 metres wide.”

The expanded site has allowed GRAYA to deliver larger, predominantly four-bedroom residences, with generous floorplates and wider ocean-facing living spaces.

The approved design includes two beachfront homes with private pools and yards opening towards the sand, and a full-floor penthouse. 

All residents have access to the rooftop recreation area, featuring a pool, spa, gym, sauna, cold plunge and outdoor dining facilities.

Koichi Takada, founder of Koichi Takada Architects, said the expanded site had strengthened the building’s connection with the coastline.

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

"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."

Construction is now underway, and completion is targeted for December 2028.

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