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Finbar Group Limited ( (AU:FRI) ) has provided an announcement.
Finbar Group Limited has completed settlement on a 4,997sqm site at 236 Railway Parade in West Leederville, Perth, and lodged a development application for a major mixed-use project in the Rosslyn Quarter precinct. The site, located near West Leederville train station and close to the CBD, Leederville and Subiaco, builds on Finbar’s existing presence in the area, including its Motive Apartments completed in 2017.
The proposed two-tower development will comprise about 240 residential apartments with ground-floor commercial space and has an estimated end value of around $230 million as a wholly-owned Finbar project. Subject to planning approvals, delivery timing and market conditions, the project is expected to enhance construction efficiencies, strengthen Finbar’s medium-cost product offering, diversify its Perth development pipeline and contribute to earnings in FY2029 and FY2030.
More about Finbar Group Limited
Finbar Group Limited is Western Australia’s leading apartment developer, listed on the ASX and focused on residential and mixed-use projects across metropolitan Perth. The company specialises in medium-cost apartment developments that leverage proximity to key transport links and established urban amenities to target owner-occupiers and investors in well-connected precincts.
Average Trading Volume: 156,250
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$220.4M
Find detailed analytics on FRI stock on TipRanks’ Stock Analysis page.