Western Australia’s leading apartment development company, Finbar Group Limited (ASX: FRI), has increased its pipeline of future developments after it received Development Approval for its proposed Garden Towers joint venture apartment development on the eastern edge of the Perth CBD.
Garden Towers will be located on the corner of Plain and Hay streets in East Perth, opposite Queens Gardens and 200 metres from the proposed WACA Ground sporting and aquatic centre.
Garden Towers will be a $207 million single stage project, comprising 331 apartments plus 1,283m2 of ground floor commercial tenancies which will include the repurposing of the former Materials Science Building.
Finbar managing director Darren Pateman said the continued improvement in demand for off-the-plan sales had given the group confidence in launching and constructing the project in one stage and he expected Garden Towers could be launched to the market as early as April 2022.
