$96 Million Project Approved for WA Developer, Finbar

Finbar Group Limited, an apartment developer, has received approval from the Western Australian Planning Commission to build a 19-storey tower at the Springs Precinct in Rivervale. The development is located at 32 Riversdale Road and will feature 143 one-, two-, and three-bedroom apartments on a 4,069-square-metre site. The building’s design, inspired by the Egret (bird) and the riverine setting, will take full advantage of its prime riverfront location, offering high amenity views of the Swan River, Burswood Peninsula, and the Perth city skyline.

The location represents the best of convenient and activated, yet tranquil, living, being only 80 metres from the river, 700 metres from the Crown Resort, one kilometre from Optus Stadium, and four kilometres to the Perth CBD. The development will include a public nature playground space with a picnic area, water fountain, and proposed indigenous artwork sculptures referencing how the area was used at different times of the six Noongar seasons. An area of land adjoining the north of the site will be remediated and revegetated, and an established Ficus tree on the Riversdale Road frontage will be retained.

The development will feature a skydeck with rooftop cabana, bar, and BBQ facilities, offering all residents access to sweeping views. Kayak storage areas, a 12-seat private dining room, steam room, gym, and 20-metre lap pool will form part of the high level of amenities on offer, in addition to the ability for EV charging within the development.

The estimated end sales value of the development is approximately $96 million. Finbar Managing Director Darren Pateman expressed his excitement, stating that the project bolsters and renews Finbar’s future development pipeline with the completion of other ongoing projects in the area.

The project is a 50/50 joint venture with Wembley Lakes Estates, representing a collaboration spanning three decades. The site was acquired in 2016 from the State Government. With a number of other projects under construction across Applecross, South Perth, the city, and Rivervale, this large-scale project demonstrates Finbar’s commitment to feeding demand for newly completed stock from Perth’s rising population.