Finbar Boosts $1.6bn Pipeline with $16.5m South Perth Site Acquisition

The latest announcement is out from Finbar Group Limited ( (AU:FRI) ).

Finbar Group Limited has agreed to acquire a 4,093sqm development site spanning 18-22 Bowman Street and 19 Labouchere Road in South Perth for $16.5 million via an off-market private sale, with settlement expected in July 2026 subject to due diligence and other conditions. The planned high-density apartment project, located opposite Finbar’s completed Civic Heart development and close to key local amenities, is expected to launch to market in mid-2028 and reach completion in FY2031 or FY2032, with an estimated end value of about $350 million; this acquisition increases Finbar’s development pipeline to more than $1.6 billion, reinforcing its strategic foothold in South Perth and demonstrating its capacity to pursue sizeable projects supported by a strong cash position and disciplined capital allocation, with the company positioning the project as a long-term value creator for shareholders and a source of high-demand housing in a prime amenity-rich suburb.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.

More about Finbar Group Limited

Finbar Group Limited is a Western Australia-based, ASX-listed apartment development company focused on high-density residential projects in metropolitan Perth. The company has a long and award-winning history in the South Perth market, targeting locations with strong amenity, proximity to the CBD and Swan River, and a mature, affluent, owner-occupier demographic.

Average Trading Volume: 273,940

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$231.3M

For detailed information about FRI stock, go to TipRanks’ Stock Analysis page.