This article is from the Australian Property Journal archive
FINBAR has completed its $200 million Concerto project in Perth, on time and on budget.
Concerto represents the third and final residential stage in the redevelopment of the former Australian Broadcasting Corporation Site known as Symphony City. Located at 189 Adelaide Terrace in East Perth, Concerto is a 38 storeys building comprising 207 apartments and two penthouses.
It was developed in a joint venture between the landowner, Ventrade Australia and Finbar. The first stage, ‘Adagio’, a 23-storey project was completed in 2014 and the second stage, ‘Toccata’, a 22-storey project was completed in 2015.
Finbar has secured sales of $133 million, which equates to 153 lots pre-sold from the 227 lots available. It is anticipated that settlements will commence in June with sales revenue from pre-sales expected to contribute significantly to the Company’s earnings for H2 FY17.
“Concerto is the culmination of nine years of planning and preparation as we have moved through the redevelopment of the significant former ABC site,” managing director Darren Pateman said.
Australian Property Journal
