Tradition says that Affreca founded the abbey in thanksgiving for a safe landing after a perilous journey at sea. The abbey was colonised with monks from Holmcultram in Cumberland, with which it maintained close ties in the early years. The construction of the stone church began almost immediately. In 1222 and again in 1237 abbots of Grey Abbey went on to become abbots of Holmcultram. The Latin name of the abbey is Iugum Dei, which means 'Yoke of God'. Little is known of the abbey's history, though it appears to have been almost completely destroyed during the invasion of Edward Bruce (1315–18). No reliable sources concerning the value of the abbey foundation survive, but it is not likely to have been prosperous.