The state's peak planning body has given Finbar Group the green light to proceed with its $207 million plan to build two apartment towers in East Perth.
Finbar Group's two-tower apartment complex on an East Perth heritage-listed site is closer to going ahead, after the project was recommended for approval.
Apartment developer Finbar Group says confidence in the investor market is improving, demonstrated by strong interest in its $97 million Rivervale apartment complex.
ASX-listed Finbar Group has released some of its apartment investment stock in Karratha to the market, off the back of a strong regional property market.
With property groups increasingly understanding the potential of heritage assets, Business News explores some of the state's prominent heritage redevelopments and those in the pipeline.
Apartment developer Finbar has halved its profit guidance for FY20, citing high construction costs of low-rise projects and the effects of COVID-19 on fourth quarter sales.
Developers are pushing ahead with plans for new projects, hoping recent government initiatives aimed at stimulating the sector will help cushion any further COVID and economic blows.
Western Australia's property developers hope the physical isolation that has helped mitigate the worst of COVID-19 in this state will also insulate the local apartment market from a contagion of a different kind.
ASX-listed apartment developer Finbar Group has established a new business division, appointing an in-house sales team led by former Knight Frank head of residential Western Australia Neil Kay.
Major commercial construction jobs have been derailed by the novel coronavirus crisis, with neither the public nor the private sector stepping up to provide certainty for contractors.
Planning Minister Rita Saffioti is offering developers a reprieve from uncertainty caused by the COVID-19 crisis, with a blanket two-year extension of development approvals expected to be announced later today.
Apartments developer Finbar Group has put new project launches on hold, including its $365 million Civic Heart in South Perth, and withdrawn its profit guidance as uncertainty spreads throughout the property sector.
Finbar Group is responding to increased demand for larger apartments with the launch of the second stage of its Applecross development, a $143 million tower to complement its nearly-completed Sabina building on Canning Highway.
Recent planning decisions have been positive for developers in South Perth, but several major players have cautioned that significant challenges remain in the near-city suburb.
UPDATED: ASX-listed apartments developer Finbar Group expects to start building its $300 million, 39-storey Civic Heart project in South Perth later this year, after Planning Minister Rita Saffioti superseded local planning authorities and approved the development.
Planning Minister Rita Saffioti has confirmed the state government will assess whether Finbar Group's Civic Heart proposal in South Perth should have been approved, while at the same time another planning flashpoint is emerging in Melville.
Finbar Group has signed a joint venture agreement with a Singapore-based developer to purchase 1,697 square metres of land in the CBD for $6.5 million, which Finbar estimates will have an end value of $71 million once developed.
Planning Minister Rita Saffioti says the state government is assessing whether it needs to intervene following the rejection of Finbar Group's $365 million Civic Heart proposal in South Perth by planning authorities.
Western Australia's biggest apartments developer has blasted planning authorities' rejection of its Civic Heart proposal in South Perth, saying the process appeared to be “superficial and subjective” as it gears up for a State Administrative Tribunal appeal.
Hanssen has been fined $47,500, after a tilt-up panel fell from a Finbar Group development onto parked cars, with the construction work being supervised by someone without adequate qualifications.
Western Australia's biggest apartments developer is evaluating its options after its second proposal for the flagship Civic Triangle site in South Perth was knocked back by planning authorities.
SPECIAL REPORT: Developers are leaving market uncertainty in the past and focusing on design and amenity to guide the next wave of Perth apartment projects.
A small number of ASX-listed Perth companies are following the example of Rupert Murdoch and Kerry Stokes, with second-generation family members taking over.
Finbar Group has lowered its profit guidance by up to $5 million for this financial year, following delays at its Vue and Palmyra Apartments Estate projects.
Apartments developer Finbar Group is moving into property management, a move described by managing director Darren Pateman as the most significant addition to the ASX-listed firm in 24 years.
Apartments developer Finbar Group is poised for a strong performance in the second half of the 2019 financial year, forecasting a solid uplift on its first-half net profit of $1.89 million with the expected completion of its Vue Tower and the first stage of the Palmyra Apartment Estate.
Finbar Group's new $330 million Civic Heart in South Perth will comprise two towers at 39 and 22 storeys, with the state government giving its tick to planning guideline changes for the site.
Western Australia's revamped strata regulations have made it easier for property owners to sell together and realise a higher premium than if they sold individually, particularly in strategic locations.
Finbar Group has announced an on-market share buy-back program under which the company could spend about $16 million repurchasing 7 per cent of its own shares.
