Finbar Sells Rivervale Site for $13.68M
Key points
- Sale of 6 Homelea Court, Rivervale site now unconditional
- Settlement expected mid-October
- Revenue to boost Finbar's H1 FY2026 earnings
Full summary
Finbar Group Limited (ASX: FRI), Western Australia's leading apartment development company, has announced that the previously announced contract for the sale of its 6 Homelea Court, Rivervale site for $13.68 million plus GST is now unconditional. The approximately 3,908sqm vacant site with DA approval in place is being sold to Together Housing (WA) 2 Ltd, which is registered as a charity and a community housing provider. Finbar CEO Ronald Chan stated that the divestment of this site will boost the company's earnings for H1 FY2026, further strengthening the company's balance sheet and recycling capital into its forward development pipeline in a favorable market environment. Settlement formalities are expected to be concluded by mid-October.
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