Finbar gets green light for West Perth project

Company News


Finbar Group Limited (ASX:FRI) says it has received development approval for an apartment project in West Perth. 
 
The deal is a 50/50 joint venture with Finbar Group to earn a management fee. 
 
The site is not far from the Perth CBD and will comprise of 242 apartments and 2 commercial lots with an end value estimated at around $125 million. 
 
Marketing for the project is expected to begin come springtime. 
 
Finbar Group reported a net profit of $11.35 million for the six months to the end of December 2014. 

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