CELEBRITY BUILDER GRAYA UNVEILS PADDINGTON MASTERPIECE
A striking new build in Paddington, Skyline pairs Graya’s trademark craftsmanship with Joe Adsett’s award-winning design.
2 min
Paddington’s skyline has a new star. A collaboration between celebrity builder Graya and award-winning architect Joe Adsett, this recently completed luxury residence is turning heads with its commanding city views, sculptural design and extensive list of high-end features.
Now on the market with Ray White New Farm agents Matt Lancashire and Josh Brown, the five-bedroom home is one of only a handful of private commissions by Graya, better known for creating showpiece addresses for Brisbane’s sporting and social elite.
The two-storey residence with iconic city views has no official price guide, given Queensland’s restrictions on pricing, but the latest sale on Reading Street, Paddington, was made in April when a four-bedroom house on 562 sq m sold for $4.38 million.
Sitting on a much larger 810sq m block, Skyline is one of the rare private residences by Graya among a handful of homes built for Brisbane’s most famous residents.
The high-profile firm is known for creating show-stopping houses for VIP clients, including footballer Darius Boyd and his wife Kayla, Wallaby Israel Folau, basketballer Aron Baynes and model Erin McNaught and her husband, rapper Example.
Brothers Andrew and Rob Gray, the celebrity builders behind Graya Constructions, have also just wrapped on the landmark project Kloud at Palm Beach. The Gold Coast development includes an apartment bought off the plan by globetrotting tennis legend Ash Barty and a palatial penthouse that just fetched $9.1 million after only 15 on the market.
Graya-built homes have been making headlines for their impressive resale value during a Brisbane housing boom. In June, a Mediterranean-inspired Hamilton home built by the brothers turned a $4 million profit in just 12 months when it sold for $12.5 million.
Skyline’s 20m frontage cuts an impressive figure and, thanks to the sloping block, captures a sweeping panorama of the city.
Crafted using a palette of stone and timber, the house has a long list of luxury fittings and finishes throughout as well as grand walls of glass to frame the views and draw in loads of natural light.
The L-shaped footprint features an open plan living and dining zone off the gourmet kitchen, which houses Miele appliances, a vast eat-at island bench, and a butler’s pantry.
This everyday space flows seamlessly into an outdoor kitchen on the covered terrace, a large, level lawn, and a unique heated infinity pool and spa, designed by Jack Boyd and recognised as a Master Builders Award finalist.
Upstairs, the accommodation level is home to a spacious main bedroom suite with a private balcony, a dual shower en-suite with a freestanding tub, plus a walk-in wardrobe with a skylight.
A gallery-style mezzanine walkway creates a double-height void below and leads to three more bedrooms, two with en-suites. There is also a home office with built-in desks, a gym space with storage and another balcony.
Additional features of the Paddington house include an entry-level guest room with an ensuite and built-ins, a separate media room, a mud room, laundry with a chute and drying court, a four-car lock-up garage, an outdoor shower, a fire pit, a Control4 smart home system, extensive security, irrigation, and solar.
Skyline is close to cafes, restaurants, boutiques and galleries, as well as multiple sought-after schools.
Skyline at 9 Reading St, Paddington is listed via an expressions of interest campaign closing on September 12 at 5pm.
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Australia’s housing market defies forecasts as prices surge past pandemic-era benchmarks.
First-home incentives can still form part of a long-term investment plan if used strategically.
3 min
Australia’s home prices continue to grow, and while that makes them great investments, they are also some of the most unaffordable in the world.
That’s why first-home buyer schemes such as the First Home Owner Grant, the First Home Guarantee, and stamp duty concessions have become so valuable.
These programs are designed to reduce upfront costs and fast-track people into homeownership.
But the question many aspiring investors are now asking is can these schemes be used as part of an investment strategy? These government initiatives aren’t designed for investors, but they can still play a key role in your long-term investment journey if used strategically.
What the schemes actually allow
Every first-home buyer incentive in Australia is created to support owner-occupiers, not investors.
Whether it’s a cash grant, reduced deposit requirement, or a stamp duty discount, the catch is always the same in that you must live in the property for a set period of time. For example, the First Home Owner Grant often requires you to live in the property for at least six to twelve months, depending on the state.
The First Home Guarantee allows you to purchase with just a 5 per cent deposit without paying lenders’ mortgage insurance, but again, you’re required to live in the property for at least one year.
Likewise, state-based stamp duty concessions are only available for properties intended as a principal place of residence. If your intention from the outset is to buy a property solely for rental income, you won’t be eligible. However, if you’re open to living in the property initially, then transitioning it into an investment, there’s a path forward.
A strategy that works
Rentvesting has emerged as one of the most practical ways for first-time buyers to take advantage of these schemes while also laying the groundwork for a property portfolio.
The concept is simply, buying a property in an area you can afford (using the first-home buyer schemes to assist), live in it for the minimum required period, and then rent it out after fulfilling the occupancy condition.
This approach lets you legally access the benefits of first-home buyer schemes while building equity and entering the market sooner. Instead of waiting years to save a full 20 per cent deposit for an investment property, or getting priced out altogether, you get your foot in the door with reduced upfront costs.
Once you’ve satisfied the live-in requirement, the property can become an income-generating asset and even serve as collateral for your next purchase.
What to look for in a rentvestment property
If you plan to eventually convert the property into an investment, you need to think beyond your short-term living experience. It’s essential to buy a property that performs well both as a home and as a long-term asset.
That means looking at key fundamentals like location, rental demand, and growth potential. Suburbs with strong infrastructure, access to employment hubs, good transport links, and low vacancy rates should be high on your list.
A balanced price-to-rent ratio will help ensure manageable holding costs once the property transitions to an investment.
Established low-density areas often outperform high-rise apartment developments that flood the market with supply and limit capital growth. And ideally, your property should offer scope for future improvements, whether that’s a cosmetic renovation, granny flat addition, or potential to subdivide down the track.
Mistakes to avoid
There are a few common missteps that can undermine this strategy. The first is selling too soon. Some grants and stamp duty concessions include clawback provisions if you offload the property within a short period, which could see you lose the benefits or even owe money back.
It’s also a mistake to let the lure of a government handout sway your purchasing decision. A $10,000 grant doesn’t justify compromising on location, growth prospects, or property fundamentals.
Another pitfall is failing to consider the financial impact once the property becomes an investment. Repayments, tax treatment, and outgoings may change, so it’s important to stress-test your position from day one.
Lastly, beware of buying into oversupplied areas simply because they’re marketed to first-home buyers. Not all new builds are good investments. If hundreds of identical properties are being built nearby, your long-term growth could be seriously limited.
With the right approach, your first home can be the foundation for an entire property portfolio. It starts with using available government support to lower your entry cost.
From there, you occupy the property for the required time, convert it to an investment, and leverage the equity and rental income to fund your next purchase.
Many of the most successful investors today began with a single, strategically chosen property purchased using these exact schemes. By buying well, you can turn your first home into the launchpad for long-term wealth.
Abdullah Nouh is the Founder of Mecca Property Group (MPG), a buyers’ advisory firm specialising in investment opportunities in residential and commercial real estate. In recent years, his team has acquired over $300 million worth of assets for 250+ clients across Australia.
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