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.

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