• Settlement completed on 4,997sqm site in West Leederville
• Development application lodged for two-tower mixed-use project
• Estimated end value of approximately $230 million

Finbar Group Limited (ASX: FRI), Western Australia's leading apartment developer, has announced the completion of settlement on a 4,997sqm development site at 236 Railway Parade in West Leederville, Perth. The company has also lodged a development application for a two-tower mixed-use project on the site, which is expected to comprise approximately 240 residential apartments and ground-floor commercial space. The project has an estimated end value of approximately $230 million and, subject to development approval, delivery timing and market conditions, is anticipated to contribute to Finbar's earnings in FY2029/FY2030. The site is located within the 'Rosslyn Quarter' precinct, just 400 metres from Finbar's successful Motive Apartments completed in 2017, and benefits from proximity to the West Leederville train station, Perth CBD, Leederville and Subiaco. The acquisition of the site follows the adoption of the West Leederville Precinct Structure Plan in February 2026, which supports substantial development yield in the area. Finbar CEO Ronald Chan stated that the completion of settlement and lodgement of the development application are important milestones for this strategically positioned West Leederville site, and the scale of the site supports a proposed two-tower development that is expected to deliver construction efficiencies and strengthen Finbar's medium-cost product offering. The project further diversifies and strengthens Finbar's long-term development pipeline across metropolitan Perth and provides flexibility to align product delivery with market conditions.

The development is anticipated to contribute to Finbar's earnings in FY2029/FY2030, subject to development approval, delivery timing and market conditions.