New $50 million Finbar project in South Perth gets green lightDevelopment approval has been granted for Finbar's $50 million development at 5-7 Harper Terrace. Photo: Finbar

New $50 million Finbar project in South Perth gets green light

A new $50 million project in South Perth has been given the green light as development in the inner-city precinct continues to surge.

The mixed-use 5-7 Harper Terrace development by Finbar will comprise 1800 square metres of commercial space as well as 42 one-, two- and three-bedroom residential apartments over nine storeys.

Building rooftop amenities include a 17.5-metre lap pool, decks, a cabana and an artificial lawn.

Announcing the Metro Central Joint Development Assessment Panel development approval today, Finbar said marketing would begin in May and building was expected to start in early 2017.

Harper Terrace adjoins Finbar’s Aurelia project and is close to its Civic Heart development. All three are near South Perth’s food and shopping precinct, as well as the Mends Street ferry wharf which services Elizabeth Quay.

Civic Heart has experienced strong results, with $60 million sold on the September 12 launch week. Photo: Supplied An artist’s impression of the Civic Heart development. Photo: Supplied

A Finbar wholly owned subsidiary bought the irregularly shaped 1782-square-metre battleaxe site, which has a secondary 10.8-metre Mill Point Road frontage, for $7.25 million in March 2015.

“We thank the City of South Perth and the Metro Central JDAP for their unanimous support in approving a development that will offer an alternative and boutique product while complementing our existing suite of South Perth projects, which remains one of our most important markets,” Finbar managing director Darren Pateman said.

The $380 million Civic Heart project, which will be the tallest apartment tower outside the central business district, is on a 7206-square-metre triangular site bounded by Mends Street, Labouchere Road and Mill Point Road.

Civic Heart’s elliptical 38-story tower will have 294 apartments, including two luxury penthouses, as well as retail space and services such as a medical centre, childcare centre and gym.

The 118-apartment Aurelia development, at 1 Harper Terrace, includes 118 apartments and two penthouses with views of Kings Park, the Swan River and Perth skyline.

An artist's impression of the Aurelia South Perth project by Finbar. Photo: Finbar An artist’s impression of the Aurelia South Perth project. Photo: Finbar

Changes to planning laws in 2013 removed building height restrictions in South Perth and opened the door to development so the suburb could become an inner-city hub.

Last month, pro-development groups warned that plans for a train station, cafe strips and apartments in South Perth were being derailed by anti-high-rise lobbyists.

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