Melbourne developer Riverside Group, part of the successful Riverlee Group, is bringing back the larger apartments of a decade ago at the final stage of its Jaques precinct in Richmond. Palmer St, developed in a joint venture with Macquarie Real Estate Equity Funds and designed by renowned Australian architects Fender Katsalidis Architects, features 56 boutique apartments across a six level wedge-shaped building, situated on the wide, tree-lined Palmer Street. Equally appealing to both empty nesters and young professionals, Palmer Street meets the demands of purchasers looking for a larger apartment in this highly sought after location. The development launched for sales last weekend and in just two days 50 per cent of apartments have been sold. The project is pitched at owner occupiers, in particular downsizers, and the majority of purchasers were from within this target audience. The development features larger than average apartment sizes and premium fixtures and fittings including high-end German engineered Gagganau appliances and European integrated fridges and freezers plus Eurocave wine fridges. Melbourne Real Estate director Peter Hooymans, who is managing the building’s sales, said the building’s floor plans had been designed to appeal to discerning locals that understand quality. “Of the 300 sales in the Jaques precinct to date, less than 20 have been to offshore purchasers, with the rest being local buyers. A postcode analysis of the buyers’ list shows the majority are locals who have come from within a five to seven kilometre radius. And, at least 75 per cent are owner occupiers,” he said. The display suite on the corner of Palmer and Griffiths St Richmond is open Wednesday and Thursday from 4pm to 6pm and Saturday and Sunday from 1pm to 4pm. For more information contact Melbourne Real Estate director Peter Hooymans at +61 3 9829 2900.