Finbar project a Royale success

Developer Finbar International has sold 100% of the first stage release of its Royale apartment project in Perth and has received development approval for its Code joint venture project in the city.

A total of 177 apartments at Royale, with an end sales value of $86.2 million, have now been sold.

Royale is located at 369 Hay Street in Perth. The project will comprise 197 units with a mix of one, two and three bedroom apartments, and four commercial lots.

The second stage release of the final 20 apartments will occur after construction works have commenced in February 2007. Completion of the project is scheduled for December 2008.

Finbar's Code project will comprise 110 one and two bedroom apartments plus four ground floor commercial lots. It will be located one block from Perth CBD on the corner of Wellington and Milligan Streets.

Marekting of the project will commence tomorrow, with construction set to begin mid next year for a late 2009 completion. An end sales value of $56 million is anticipated.

Reprinted with permission. The Australian Property Review. http://www.apr.com.au