Finbar has received the greenlight from the Minister for Planning to re-zone of the company’s project located at Maylands in Western Australia.
The company will be now be lodging plans for the approval of 112 new residential apartments plus an additional 19 apartments to be constructed in the existing heritage buildings.
The Maylands project is located at lots one through 10 Whatley Crescent, and will be developed by one of Finbar’s wholly owned subsidiaries and is expected to contribute over $16 million profit to the company in the 2009 and 2010 financial years.
By Kathryn O’Meara
