Garden Towers is rising fast and so is the urgency for buyers yet to secure their place in one of East Perth’s most significant new residential developments.
One of Western Australia’s leading apartment developers, Finbar, is offering a limited-time stamp duty incentive that effectively doubles the State Government’s existing concession for under-construction purchases.
The State Government’s concession of 37.5 per cent is being supplemented by Finbar to deliver a combined saving of 75 per cent on stamp duty, capped at $50,000, and with Garden Towers getting close to completion in spring, the window is closing.
“This is one of the most compelling buying opportunities we have seen for a new Perth apartment development in some time,” Finbar CEO Ronald Chan said.
“The stamp duty saving available right now is substantial, and it disappears the moment the building completes.
“For buyers who have been considering Garden Towers, the time to act is now.”
With one-bedroom apartments sold out and the development sitting at 80 per cent sold, the remaining opportunities are concentrated across two and three-bedroom configurations located on levels seven up to 35.
Mr Chan said the combination of limited remaining stock and an expiring financial incentive had sharpened buyer focus considerably in recent months.
“The response to Garden Towers has exceeded our expectations,” he said.
“Enquiries are continuing to flow, and we expect the remaining stock will not last long.”
The timing also intersects with a shifting investment landscape. Changes announced in the 2026-27 Federal Budget, preserving negative gearing for new builds and modifying capital gains tax treatment, have created a structural advantage for new apartment purchases.
Garden Towers, as a development under construction nearing completion, sits within that advantaged category.
“The policy environment for new apartment investment has genuinely shifted,” Mr Chan said. “Investors who understand what the Federal Budget changes mean are looking at new builds very differently right now.
“Garden Towers offers both the investment fundamentals and the lifestyle credentials that make it stand out.”
Comprising 331 units across two towers, Finbar launched Garden Towers in May 2022 and commenced construction in April 2024.
Located at the State Government’s historic former Chemical Laboratories site, Finbar is also creating a dining and retail precinct at ground level with 13 tenancies, anchored by the heritage-listed Materials Science Building at the corner of Hay Street and Plain Street.
Designed by Chang Architects and achieving a Nationwide House Energy Rating Scheme seven-star energy rating, the development incorporates solar photovoltaic systems, double-glazed windows, a centralised hot water system and electric vehicle charging provisions for every car bay.
Residents will have access to amenities across two dedicated facilities floors.
Level six houses an infinity pool, a fully equipped gym, a sauna, a steam room, a cinema, a virtual golf simulator, a putting green, a meditation and yoga room, a business lounge and a children’s play zone.
Level 36 delivers a rooftop sky bar, a private dining room, a cabana lounge and a one-of-a-kind glamping nook with views across Swan River and the city skyline.
Positioned overlooking Queens Gardens and within walking distance of Swan River, the Perth CBD and the WACA Ground, future residents will be embedded within one of the city’s most connected precincts.
The Pavilion at the WACA Ground has recently opened, adding a world-class hospitality venue to an already well-served neighbourhood, and an East Perth primary school is under construction with an expected opening in 2029.
For buyers purchasing off-the-plan, Finbar’s delivery track record provides additional confidence.
The company has completed more than 79 developments and delivered more than 7400 apartments since 1995, with a 100 per cent completion rate across every project it has undertaken.
“We are proud of what Garden Towers has become,” Mr Chan said.
“It honours the history of this site while delivering something genuinely new for East Perth.
“We look forward to welcoming residents through the doors this spring.”
Garden Towers offers contemporary apartment living in the heart of East Perth, combining convenience, connectivity and lifestyle.
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