26/06/2012 - 15:38

Finbar kicks off stage 2 of Karratha high-rise

26/06/2012 - 15:38

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Finbar kicks off stage 2 of Karratha high-rise
An artist's impression of the completed Pelago East and West developments.

Apartment developer Finbar has announced the release of the second stage of its Karratha high-rise residential project, Pelago.

Pelago East will comprise 174 apartments and 2,000 square metres of commercial space once complete, Finbar said.

Nearly 35 per cent of the project is already pre-sold.

Finbar managing director Darren Pateman said the state government’s commitment to Karratha would ensure its Pilbara City vision would become a reality.

“Through a very positive relationship between the private and public sector, the Karratha CBD redevelopment is being spearheaded and we are excited to be a part of this important stage for the Pilbara area,” Mr Pateman said.

The first stage of the complex, Pelago West, is currently 85 per cent pre-sold or leased, Mr Pateman said.

At close of trade today, Finbar stocks were down 1 per cent, trading at $1.04. 

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