Penthouse owner drops $8m on yet-to-be-built beach house
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Rocabella at 120 Hedges Ave, Mermaid Beach
A Brisbane penthouse owner has dropped $8m on a yet-to-be-built luxury beachside home on the Gold Coast.
The off-the-plan sale is a coup for high-profile developers Graya, who made their name building jaw-dropping mansions for celebrity clients including ex-footballer Darius Boyd and his influencer wife Kayla.
Graya director Rob Gray said one of two residences in a duplex under construction on Mermaid Beach’s Hedges Ave, known as Billionaire’s Row, was snapped up within 24 hours of launching to market.
The deal was handled by White Fox agent, Nic Whitehead. Named Rocabella, the project’s northern residence, Bella, was the buyer’s pick.
Cashed-up buyers are circling the second residence, which was originally to be retained by Mr
One of the residences has sold for $8m
Construction is expected to be finished in September next year
Gray and his wife Meghan, but Mrs Gray is holding firm, reluctant to let go of their own future holiday hideaway.
Mr Whitehead said the listing created an instant stir among buyers “actively searching for a Graya product”.
“A lot of people are dreaming of a beautiful holiday house on Hedges Ave, and owning a Graya home is certainly bragging rights as the recognition of the quality and uniqueness of the brand is unbelievably strong,” Mr Whitehead said.
“That exclusivity is driving demand, and with this product we managed to achieve a really strong price for the area that definitely lifts the bar for a non-beachfront property.”
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Rob and Meghan Gray with son Hayes
“Given how Bella has performed, we are still fielding expressions of interest on Roca, the remaining property.
“The biggest headache I have is trying to convince Meghan to let it go,” he said.
Mr Gray said they were “on the fence” about whether to sell.
“Meghan really wants to keep it and Nic is really encouraging a sale. It’s a tough one – it could even be the hardest decision of 2025.”
The couple recently collected $11m from the sale of Dune, a spectacular Moroccan-inspired mansion at Burleigh Heads, also built by Graya, which was originally intended as their dream family home.
The Grays’ Burleigh Heads mansion, Dune, sold for $11m.
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Records show Mr Gray paid $3,292,500 in March for a 402 sqm site at 120 Hedges Ave.
The block was sub-divided, with Studio Workshop engaged to design a pair of semi-detached houses.
Described in the sales listing as, “five levels of lavish living space” inspired by a classic European villa, each of the residences has a private oceanview rooftop terrace with a glass-edged pool and alfresco dining area.
Luxury finishes over five levels
Each home has a private rooftop pool and entertaining terrace
Three ensuited bedrooms are set over the first floor, with a spacious master bedroom plus private balcony above, and open-plan kitchen, living and dining zone on the third floor.
The project’s material palette of brickwork, timber, glass and interior stone is enhanced by plants on every level including the rooftop, creating a stunning visual statement while complementing the coastal setting.
PropTrack data shows house prices in Mermaid Beach were up 30 per cent over the past 12 months, to a median of $3.4m.
