Edwin Davey Flour Mill rises again as Harbour Mill as investors rush to secure stamp duty-exempted units

Half of the apartments in the Pyrmont development Harbour Mill, on the former Edwin Davey & Sons Flour Mill are at the junction of Allen and Jones streets, have sold off the plan when they launched this past weekend.

About 65% of the 136 units in the Ceerose development are priced under $600,000, and owner-occupiers and investors who buy these offerings before July 1 this year will be entirely exempted from stamp duty under the NSW government's home builders’ bonus.

CBRE, which is marketing the project, says about 60% of the 70 units sold so far have sold to investors.

The two interlocked buildings in Harbour Mill will comprise 32 studio apartments ranging in size between 40 and 69 square metres, with prices starting from $395,000. The 51 one-bedroom apartments will range from 55 to 75 square metres and start from $495,000. There will be 45 two-bedroom apartments, ranging from 80 to 98 square metres, and they will not qualify for the stamp duty exemption, as they start from $725,000. The eight largest apartments, of three bedrooms each, will range from 100 square metres to 122 square metres and will come with extensive roof terraces. They begin at $1 million.

The site began its life as a jam factory and in the early 1900s was converted into the Edwin Davey & Sons Flour Mill, which closed in 1996. Most of the buildings have been demolished since the mill’s closure, but the façade has endured and is incorporated into Grimshaw Architects’ Harbour Mill design.

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