ApartmentsLindsay SaundersThu 06 Aug 26
Graya Reveals 15-Storey Newstead Project After $40m Site Deal
Brisbane developer Graya has revealed a $700-million project that includes a pedestrian laneway linking two of the River City’s best-known lifestyle precincts after paying $40 million for a prominent Newstead site.
The developer put its foot on the 3016sq m site at 19 Chester Street, 3km north of the Brisbane CBD, through an off-market campaign.
Graya said it had now filed a development application with the Brisbane City Council for the 170-home scheme, dubbed The Silo, designed by Bureau Proberts.
The site, between James Street and the Gasworks, is one of the last large-scale development opportunities on the fringe of the James Street precinct.
The parcels on the corner of Chester and Morse streets have more than 165m of street frontage.
There is a substantial planning history for 19 Chester Street.
Frasers Property Australia acquired it in 2021 and initially secured approval for a 17-storey mixed-use project before filing a redesigned proposal in 2025 with two residential towers comprising 73 luxury apartments.
It has divested the site as part of its strategy to lean into the lower-risk communities market in South-East Queensland.
Graya’s 15-storey proposal includes also includes ground-floor retail and hospitality tenancies fronting the pedestrian laneway, to be known as Silo Lane.
Residents would also have access to a dedicated health and wellness level, communal facilities and a two-level rooftop skydeck spanning more than 2000sq m of amenities.
Graya said the project was expected to generate more than $700 million in gross revenue.
The building’s distinctive cylindrical form, which inspired the project’s name, has been designed to reference Newstead’s industrial heritage while responding to Brisbane's subtropical climate, the developer said.
The proposal also includes landscaped public spaces to improve pedestrian connections between the neighbouring retail and entertainment precincts.
Graya co-founder and chief executive Rob Gray said the company aimed to create a landmark residential development for Brisbane.
“The Silo is the residential offering the James Street precinct has been missing, and the design reflects the scale of that opportunity,” he said.
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Co-founder and managing director Andrew Gray said the proposal had been developed with a focus on how residents and visitors would use the precinct.
“We have tested the proposal against the way people will live, move through the precinct and use the ground plane,” he said.
“The result is a proposal that works at two levels, as a place to live and as part of Newstead.”
The site was sold through an invitation-only off-market campaign managed by Chesters, with Graya selected from a competitive field of developers following a high level of interest.
Brisbane-based Graya has built a profile through boutique, design-led residential projects across southeast Queensland, including DUNE by Graya at Burleigh Heads, Maison by Graya at New Farm and Rocabella Mermaid Beach, which won the Small-Scale Residential category at The Urban Developer Awards for Excellence 2026.
