FINBAR has reached a stage of practical completion of its $85.7 million Toccata development in East Perth.
Located at 88 Terrace Rd, the development consists of 45 apartments in a 23 level building. Finbar has secured 39 sales totalling $73.7 million.
Managing director Darren Pateman said it is anticipated that settlements will commence on 19 June 2015 with sales revenue from pre-sales expected to be a material contributor to Finbar’s second half earnings for FY15.
“Together with Subi Strand completed a few weeks ago, both projects will contribute to the Company’s second half earnings and be supported by a strong profit margin to supplement our full year results.” Pateman said.
Australian Property Journal
