Finbar gets approval for $40m complex

Finbar has built on its dominance of the East Perth apartments construction market, with its joint venture securing approval for a 192-apartment, two tower complex at 208 Adelaide Terrace and 311 Hay Street.

The $40 million development will comprise two ten-storey, 96-apartment towers with ground floor commercial tenancies. The towers will be linked by a decked pool area, Finbar said.

Finbar managing director Darren Pateman said the approval was well-timed.

"It will provide with another large scale project to offer the market at a time when out 200-unit X2 project, located a couple of blocks further away from the CBD, is now complete with only 15 lots left to be sold," he said.

Finbar has developed 1,500 apartments in East Perth over the past seven years, with a further 275 currently under construction.

The new development will be marketed in spring and Finbar aims to commence construction early next year.