08/10/2013 - 08:06

Diploma to build $32m West Perth apartments

08/10/2013 - 08:06

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Diploma Group has commenced construction on a new $32 million, 86-apartment development in West Perth.

Diploma chief executive Nick Di Latte.

Diploma Group has started construction on a new $32 million, 86-apartment development in West Perth.

The eight-level Abode development at 6 Campbell Street is a joint venture between Diploma and the Department of Housing.

Forward works have commenced on the site and the development is expected to be completed by February 2015, with 93 per cent of the apartments already pre-sold.

This is the second joint venture between Diploma and the Department of Housing, having previously teamed up for the $40 million One Aberdeen apartment complex in Northbridge.

Diploma's order book for the next 18 months now stands at $163 million.

Diploma shares gained almost 3 per cent to reach 3.5 cents at 8:00AM WST. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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