As one $85.7 million project hits its final stages of construction, another begins to come out of the ground; such is the life of Perth’s leading apartments developer, Finbar Group.
The developer has reached practical completion at its Toccata project in East Perth – a 45-apartment luxury project located on Terrace Road.
Just six apartments remain for sale in the project, part of the redevelopment of the former ABC studios, which also offers unrestricted views across Langley Park and the Swan River.
The final stage of the ABC studios redevelopment, Concerto, is also under construction.
At the same time, a crane has gone up and construction has begun on Finbar’s next project – the 112-unit Linq apartments in Northbridge.
That $66 million project is scheduled to be complete by the middle of next year.
The completion at Toccata and the kick-off at Linq follow Finbar completing its $165 million Subi Strand project ahead of schedule last month.
Subi Strand comprises 245 apartments on Hood and Roydhouse streets in Subiaco.
Subi Strand features LED lights strung between the two buildings as part of the developer's commitment to public art.
“Toccata is a key project we have been working to complete in the current financial year which has been finished on budget,” Finbar managing director Darren Pateman said.
“Together with Subi Strand, both projects will contribute to the company’s second half earnings and be supported by a strong profit margin to supplement our full year results.”
As impressive as those projects are, Finbar is to embark on its largest single project to date in coming months – the $380 million Civic Heart development in South Perth.
Civic Heart, which comprises 294 apartments in a 38-level tower as well as 11,900 square metres of commercial space, won planning approval last month and marketing is in full swing.
In total, Finbar has 1,749 apartments either under construction or currently being marketed across 10 Perth projects, with the number of dwellings it anticipates to develop swelling to 2,753 over the next four years.
In its 20-year history, Finbar has completed 4,365 apartments.