A render of the Supply Co. development.

Off-the-plan investment purchases no longer receive stamp duty concessions under changes announced by the state government earlier this year.

Beller associate director Heath Thompson said activity had ramped up as investors aimed to ink deals before the July 1 stamp duty changes.

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Supply Co Richmond.Source:Supplied

“We certainly had increased interest prior to the end of the financial year,” he said.

“A lot of investors had been very quiet recently and just in the last few weeks (before July 1), we had quite a lot — not just at Supply Co but a lot of other projects.”

Just 16 apartments remain at the 129-dwelling development close to the banks of the Yarra River at 9-15 David St.

Mr Thompson said the remaining one, two and three-bedroom pads ranged in price from $599,000 to $1.27 million.

Supply Co Richmond.Source:Supplied

Overall, one-bedroom apartments were available for $399,000-$480,000, two-bedroom apartments from $565,000-$829,000 and three-bedroom from $925,000-$1.325 million.

Each property has at least one car space and residents also benefit from communal facilities including a lounge, yoga studio and on-site cafe.

Mr Thompson said the project was originally going to feature 140 apartments but there was demand from buyers to combine two for a larger home.

“We call it the family building,” he said.

“Its got a location right in Richmond but in a fairly quiet position so it really suits owner-occupiers and is family friendly.

Supply Co Richmond.Source:Supplied

“It’s rare to get a project so close to amenities but not on a main road so to speak, so a lot of our buyers are very happy with that. It’s close to the river with great city views and also out towards Hawthorn as well so it’s got some really nice outlooks.”

Just a couple of steps from Victoria Gardens shopping centre, a big mural of mother nature will sprawl up the side of the
11-storey development once its completed, scheduled for August 2018.

For more information, call Heath Thompson on 0408 314 756, visit the display suite at 9 Doonside St, Richmond, open 12.30pm-2.30pm Wednesday, Saturday and Sunday, or visit supplycorichmond.com.au

Originally published as Investor action causes quick sales