Finbar gets development approval for $350M project in WA

Company News

by David Chau

Apartment developer Finbar Group Ltd (ASX:FRI) has received approval to develop its Canning Bridge residential project at the Perth suburb of Applecross.

Finbar says the site is over 8,000 square meters, with estimated value of over $350 million.

The Canning Bridge project will include 452 apartments, nine commercial properties across three mixed use towers – with views of the Swan River, Canning River and Perth city skyline.

The project will developed in three separate stages, with two stages fronting a major road, the Canning Highway, and one stage fronting Kintail Road, Applecross.

Yesterday, Finbar’s shares closed 3.8% higher at 82 cents.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.