Finbar Acquires Ascot Development Site
Key points
- Acquisition of 5,317sqm site in Ascot
- Estimated end value of $150 million
- Targeted market launch in CY2027
- Completion expected in FY2029 or FY2030
Full summary
Finbar Group Limited, a leading apartment developer in Western Australia, has announced the acquisition of a 5,317 square meter site at 172-176 Great Eastern Highway, Ascot. The acquisition, subject to Foreign Investment Review Board approval, is expected to settle in late November 2026. The site, located near existing amenities and transport hubs, supports large-scale mixed-use and residential development. The project is targeted for a market launch in CY2027, with an estimated end value of approximately $150 million, and is expected to complete in FY2029 or FY2030. This acquisition strengthens Finbar's development pipeline and aligns with its strategy of delivering affordable, quality apartments in well-connected locations.
Guidance
Estimated end value of $150 million, targeted market launch in CY2027
Outlook
Finbar aims to leverage its strong cash position to refresh its pipeline with large-scale sites offering significant development options, focusing on affordable mid-range apartments.
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