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Garden Towers. Source: Finbar
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  • Finbar Group (FRI) achieved complex approval for its proposed Garden Towers joint venture apartment development on the eastern outskirts of Perth’s CBD
  • Garden Towers will be a single-stage $207 million project that will feature 331 apartments and 1283 square metres of ground floor commercial tenancies
  • The project will have one, two, and three-bedroom apartments as well as common amenities such as a skydeck with residents bar and private dining area
  • Finbar managing director Darren Pateman says that Garden Towers could be available to the market as early as April 2022
  • Shares in Finbar are down 0.63 per cent to 79 cents at 1:42 pm AEDT

Western Australian apartment developer Finbar Group (FRI) has achieved complex approval for its proposed Garden Towers joint venture apartment development on the eastern outskirts of Perth’s CBD.

Garden Towers will be built on the intersection of Plain and Hay streets in East Perth, just across from Queens Gardens and 200 metres from the projected WACA Ground athletic and aquatic centre.

Garden Towers will be a single-stage $207 million project that will feature 331 apartments and 1283 square metres of ground floor commercial tenancies, as well as the rehabilitation of the existing heritage-listed Materials Science Building.

Garden Towers will have one, two, and three-bedroom apartments as well as a variety of common amenities such as a Level 36 Skydeck with a residents bar and private dining area.

A heated pool, residential lounge, games and active games rooms, virtual golf driving range, twelve study and ‘Zoom’ rooms, board room, gymnasium, cinema and media centre, and indoor and outdoor children’s play facilities are among the level six features.

Finbar managing director Darren Pateman stated that the group’s confidence in launching and constructing the project in one step was bolstered by the continuous increase in demand for off-the-plan sales, and that Garden Towers might be available to the market as early as April 2022.

“Finbar has developed 33 projects comprising more than 3,504 apartments with an end value of over $2 billion in the City strip alone over the past 17 years, so we have a sound understanding and deep affinity for the East Perth residential market and are very pleased to have received this approval for another landmark East Perth project,” Mr Pateman said.

“We are scheduling construction commencement towards the end of calendar year
2022, assuming our sales progress as well as anticipated.”

Shares in Finbar are down 0.63 per cent to 79 cents at 1:42 pm AEDT.

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