Finbar Group has secured a prime development site in South Perth for $9.2 million, boosting its five-year pipeline to over $1.15 billion and targeting a 2026 market launch.
- Conditional $9.2 million purchase of 19-25 Lyall Street site
- Estimated project end value of $165 million
- Development pipeline now exceeds $1.15 billion over five years
- Site located near Civic Heart, Perth Zoo, and key amenities
- Market launch targeted for calendar year 2026
Strategic Acquisition in South Perth
Finbar Group Limited, a leading apartment developer in Western Australia, has announced a conditional acquisition of a 2,385 square metre site at 19-25 Lyall Street, South Perth, for $9.2 million. This move comes as the company looks to build on the momentum of its recently completed Civic Heart project, situated just 125 metres away. Settlement is expected by late November 2025, pending successful due diligence.
Prime Location with Strong Market Appeal
The site benefits from proximity to several key amenities, including the Perth Zoo, Mends Street shopping precinct, and the South Perth ferry terminal, all within walking distance. These factors, combined with the healthy demand for apartments in the region, position the upcoming development for a strong sales outcome. The location within the South Perth Activity Centre also allows for high-density development, with potential for significant height and scale under the existing planning framework.
Pipeline Growth and Future Prospects
Finbar’s CEO, Ronald Chan, highlighted the company’s long-standing presence in South Perth, noting that this acquisition increases the group’s five-year development pipeline to over $1.15 billion. The new project is targeted to launch to market in calendar year 2026, with an anticipated end value of approximately $165 million. Chan emphasized the company’s strong cash position and ongoing strategy to pursue land acquisitions that complement its existing portfolio.
Leveraging Experience and Planning Frameworks
With three decades of development experience in South Perth, Finbar plans to utilise its familiarity with the local statutory planning framework to explore all feasible options for the site. This includes leveraging discretionary height limits to maximise the project’s scale and value. The company’s approach reflects a commitment to delivering transformative projects that meet housing demand while creating shareholder value.
Looking Ahead
As Finbar prepares for the next phase of development, the market will be watching closely to see how the company navigates due diligence, planning approvals, and market conditions ahead of the 2026 launch. This acquisition underscores Finbar’s confidence in South Perth’s apartment market and its strategic intent to maintain a strong foothold in the area.
Bottom Line?
Finbar’s latest acquisition cements its South Perth presence and sets the stage for a significant development cycle starting in 2026.
Questions in the middle?
- Will Finbar secure all necessary planning approvals to maximise the site’s height and density?
- How will market conditions in 2026 affect the sales velocity and pricing of the new development?
- What further land acquisitions might Finbar pursue to complement this expanded pipeline?