Western Australia’s leading apartment developer, Finbar Group Limited (FRI), is pleased to advise that LandCorp has selected a Finbar led joint venture as the preferred developer of two lots in the Springs Rivervale, Western Australia.
The lots comprise a 7,500sqm site located five kilometres east of the Perth CBD and are in close proximity to the high grade amenity of the Swan River and Burswood Entertainment Precinct. The property also has excellent transport links to the Graham Farmer Freeway and Great Eastern Highway.
It is intended that the site, with frontages on Rowe Avenue, Hawksburn Road, and Great Eastern Highway, will be developed into two residential towers of eight and 16 stories, which will contain a total of approximately 190 one and two bedroom residential apartments along with large shared amenities deck and facilities. A separate six storey office building is proposed which will provide approximately 6000sqm of prime office space with direct exposure to the Great Eastern Highway frontage.
Springs Rivervale is a 14 hectare redevelopment project being conducted by LandCorp (the WA State Government). The project will introduce new and diverse styles of inner city living and bring commercial opportunities to Rivervale. Finbar has entered into a 50% joint venture to develop the site if approved, and Finbar will earn 50% of project profit plus a management fee.
http://www.traderdealer.com.au/Fundamentals/fri
