Brisbane’s most expensive property is set to nearly double in value over the next two years.
Luxury developer Rob Gray will be demolishing and redesigning his old New Farm home, which broke Brisbane records in October last year.
He and his wife Meghan sold their four-bedroom home at 17 Julius St for $25 million, after buying it in 2022 for $8.5m.
Mr Gray is a co-founder of Graya, which is set to knock down the three-storey house in the near future.
17 Julius St, New Farm, broke Brisbane records in October with a $25 million sale – and is now set to nearly double in value with its new $20 million build.
Graya co-founder Rob Gray and his wife and Meghan bought the house in 2022 for $8.5m. Graya has now been contracted to demolish and redesign the site.
The property will then go through a rebuild with an estimated budget of $20m: making the home worth $45m in value once complete.
Chemist Warehouse managing partner Jeff Wasley and his wife Tanya were confirmed by public records to be the buyers, and settled on the property in November.
Buyers agency Cohen Handler Queensland, which worked with the Wasleys to buy the property last year, posted on Instagram the purchase of 17 Julius St amounted to $45m.
Cohen Handler QLD’s Instagram post calling the sale a $45m purchase. This is said to include the reported $20m budget for the new build.
It is understood this has taken into account the $25m sale price of the property, along with the estimated $20m that will be placed into the new build.
Graya is expected to perform the demolition soon, before focusing on the new look for Mr Gray’s old home.
Construction is set to begin some time in 2027. The site has the potential to become a five-storey residence when completed.
Demolition will take place in the near future. A redesign will follow, with a build expected for 2027. The site has the potential to be a five-storey home.
Rob and Meghan Gray first planned for the site to house four luxury apartments, but the project was knocked back by the Brisbane City Council.
The Grays had initially intended to build four luxury apartments on the land, before the Brisbane City Council rejected the plans.
Mr Gray declined to comment on the news when contacted.
Several other Chemist Warehouse executives went on a property spending spree in 2025, with co-founder Jack Gance and his wife Evelynne reportedly spending $80m on a block of land in Toorak, Victoria.
Chemist Warehouse managing partner Jeff Wasley and his wife Tanya were the buyers of 17 Julius St: one of several luxury home purchases made by Chemist Warehouse executives in 2025. Picture: Shae Beplate.
Meanwhile, co-founder Mario Verrocchi was said to have paid more than $20m for a six-bedroom Toorak house, and $23m for a penthouse in a Bondi, NSW development.
Shareholder and chief operating officer Mario Tascone also reportedly bought a sub-penthouse in the Hall and Campbell project for $25.1m.
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