Finbar Group Receives Approval for $265M West Leederville Project
Key points
- Approval received for two-tower, 18 and 19 storey mixed-use development
- Project includes 244 residential apartments and 210 sqm commercial space
- Estimated end value revised to $265M
- Pre-sales planned for 2H CY2026, completion in 2H CY2029
Full summary
Finbar Group Limited (ASX: FRI) has received Development Approval for its mixed-use development at 236 Railway Parade, West Leederville, named Leeder Residences. The project comprises two towers of 18 and 19 storeys, delivering 244 residential apartments and 210 sqm of ground-floor commercial space. The estimated end value has been revised upward from $230M to $265M. Pre-sales are expected to launch in the second half of the calendar year 2026, with construction completion targeted for the second half of the calendar year 2029. The project is anticipated to contribute to Finbar's earnings in FY2029/FY2030, subject to delivery timing and market conditions.
Guidance
Estimated end value revised to $265M, pre-sales in 2H CY2026, completion in 2H CY2029
Outlook
The project is anticipated to contribute to Finbar's earnings in FY2029/FY2030, subject to delivery timing and market conditions.
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