Young families, including Cliff Ho and two other directors of his co-working business The Commons, have bought apartments in Riverlee’s planned luxury development on the northern bank of Melbourne’s Yarra River.

Mr Ho and his colleagues – part of $100 million-worth of sales so far in the $500 million mixed-used Seafarers project – were not the type of owner-occupier buyers he was expecting, Riverlee director David Lee said.