GRAYA's Kloud penthouse in Palm Beach sells for record $9.1 million

GRAYA's Kloud penthouse in Palm Beach has smashed records in a $9.1 million plus unconditional deal after only being on the market for 15 days.

This sale has set a new suburb record for unit prices in Palm Beach, the previous one being $8.6 million for 7/15 Jefferson Lane.

Director Andrew Gray said the team were "very excited" to announce the premium sale.

"It once again shows the depth of market in the luxury space and the high-level of interest interstate buyers still have for quality projects on the Gold Coast," he said.

Mr Gray went on to emphasise that the level of interest in the penthouse had been "unprecedented" with three offers above asking price made shortly after launch.

The sale was managed by Whitefox Gold Coast'sNic Whitehead, with the successful purchaser an interstate buyer looking to holiday in the Beachside project.

Named Kloud, the 272-square-metre penthouse occupies two entire floors of the building with a private rooftop.

"This penthouse is one-of-a-kind with the full rooftop allocated to the penthouse," said Mr Gray. "The rooftop includes a pool/spa with uninterrupted ocean views, fully operational bar for entertaining guests and a steam room for rest and recovery."

The award-winning developer purchased the original site for around $9 million and have since begun constructing the 23-unit building.

A building fit for the stars, tennis champion Ash Barty has reportedly purchased a unit within the project.

The building is being designed in-house and currently only three units remain available to purchase.

"With construction due for completion in November, and residents moving in prior to Christmas, the remaining residences won't last much longer," said Mr Gray. "Any interested parties should get in contact before they miss out."

This news comes after the developer secured a rare Brisbane site on James Street, a vibrant retail and hospitality destination in the heart of Brisbane's Fortitude Valley.

Graya beat out both local and overseas buyers in a competitive sale to purchase the 943-square-metre site and current home of Bed Bath & Table.

"Sites like this are truly once in a lifetime," said co-director Rob Gray. "It's a rare opportunity to contribute to one of Australia's most iconic lifestyle destinations."

Plans for the site have yet to be lodged, however a statement from the team said the project will be a landmark mixed-use precinct featuring a "design-led approach with a strong focus on curating an offering that enhances the precinct's lifestyle appeal and long-term commercial value."

In another recent win, the developer was recently crowned Australian Property Developer of the year at the Urban Developer awards in Sydney.