Finbar Group

SPECIAL REPORT: Confidence is returning to the state’s apartment market, with developers seeking to boost their project pipelines. Click through to see our map with 30 apartments projects across Perth and our updated ranking of Property Developers.

Apartment developer Finbar Group has lifted its net profit expectations for the 2018 financial year as a result of what it says are improved market conditions and project settlements.

Owner-occupiers and investors increasingly look for technology and sustainability features when making apartment purchases.

Apartment developer Finbar Group has bought the final stage of the Symphony City development site in East Perth from its joint venture partner Ventrade Australia for $4.5 million.

This now-mobile group is a key driver in Perth’s reviving apartments market, making up 65 per cent of buyers.

Finbar Group is embroiled in a court battle over whether it has to tell potential buyers of apartments at its $50 million Palmyra project that the D’Orsogna factory across the road may produce bad smells.

Finbar Group has announced an on-market share buy-back program under which the company could spend about $16 million repurchasing 7 per cent of its own shares.

Western Australia’s revamped strata regulations have made it easier for property owners to sell together and realise a higher premium than if they sold individually, particularly in strategic locations.

Finbar Group’s new $330 million Civic Heart in South Perth will comprise two towers at 39 and 22 storeys, with the state government giving its tick to planning guideline changes for the site.

Apartments developer Finbar Group is poised for a strong performance in the second half of the 2019 financial year, forecasting a solid uplift on its first-half net profit of $1.89 million with the expected completion of its Vue Tower and the first stage of the Palmyra Apartment Estate.

Apartments developer Finbar Group is moving into property management, a move described by managing director Darren Pateman as the most significant addition to the ASX-listed firm in 24 years.

Finbar Group has lowered its profit guidance by up to $5 million for this financial year, following delays at its Vue and Palmyra Apartments Estate projects.

A small number of ASX-listed Perth companies are following the example of Rupert Murdoch and Kerry Stokes, with second-generation family members taking over.

JWH Group is refining its offering for first homebuyers who favour location over size.

SPECIAL REPORT: Developers are leaving market uncertainty in the past and focusing on design and amenity to guide the next wave of Perth apartment projects.

SPECIAL REPORT: A new high-rise precinct is evolving around Mount Pleasant and Applecross.

Western Australia’s biggest apartments developer is evaluating its options after its second proposal for the flagship Civic Triangle site in South Perth was knocked back by planning authorities.

Hanssen has been fined $47,500, after a tilt-up panel fell from a Finbar Group development onto parked cars, with the construction work being supervised by someone without adequate qualifications.

Western Australia’s biggest apartments developer has blasted planning authorities’ rejection of its Civic Heart proposal in South Perth, saying the process appeared to be “superficial and subjective” as it gears up for a State Administrative Tribunal appeal.

Planning Minister Rita Saffioti says the state government is assessing whether it needs to intervene following the rejection of Finbar Group’s $365 million Civic Heart proposal in South Perth by planning authorities.

Finbar Group has signed a joint venture agreement with a Singapore-based developer to purchase 1,697 square metres of land in the CBD for $6.5 million, which Finbar estimates will have an end value of $71 million once developed.

Planning Minister Rita Saffioti has confirmed the state government will assess whether Finbar Group’s Civic Heart proposal in South Perth should have been approved, while at the same time another planning flashpoint is emerging in Melville.

WorkSafe has taken action against Perth-based construction company Hanssen after an incident that resulted in the death of a labour hire backpacker.

UPDATED: ASX-listed apartments developer Finbar Group expects to start building its $300 million, 39-storey Civic Heart project in South Perth later this year, after Planning Minister Rita Saffioti superseded local planning authorities and approved the development.

Recent planning decisions have been positive for developers in South Perth, but several major players have cautioned that significant challenges remain in the near-city suburb.

Finbar Group is responding to increased demand for larger apartments with the launch of the second stage of its Applecross development, a $143 million tower to complement its nearly-completed Sabina building on Canning Highway.

Apartments developer Finbar Group has put new project launches on hold, including its $365 million Civic Heart in South Perth, and withdrawn its profit guidance as uncertainty spreads throughout the property sector.

Planning Minister Rita Saffioti is offering developers a reprieve from uncertainty caused by the COVID-19 crisis, with a blanket two-year extension of development approvals expected to be announced later today.

Major commercial construction jobs have been derailed by the novel coronavirus crisis, with neither the public nor the private sector stepping up to provide certainty for contractors.

ASX-listed apartment developer Finbar Group has established a new business division, appointing an in-house sales team led by former Knight Frank head of residential Western Australia Neil Kay.

Western Australia’s property developers hope the physical isolation that has helped mitigate the worst of COVID-19 in this state will also insulate the local apartment market from a contagion of a different kind.

Developers are pushing ahead with plans for new projects, hoping recent government initiatives aimed at stimulating the sector will help cushion any further COVID and economic blows.

Western Australian property developer Finbar Group has received development approval for its 32-storey apartment tower on Adelaide Terrace.

Apartment developer Finbar has halved its profit guidance for FY20, citing high construction costs of low-rise projects and the effects of COVID-19 on fourth quarter sales.

Joint-venture partners Finbar and Ventrade Australia have purchased a site in East Perth for $16 million, following a state government tender process.

With property groups increasingly understanding the potential of heritage assets, Business News explores some of the state’s prominent heritage redevelopments and those in the pipeline.

Following years of setbacks and delays, earthworks have started at Finbar’s Civic Heart project in South Perth.

Perth Property Research Advisory has mapped the pandemic's surprising impact on Perth property sales.

Land developer Peet and apartment developer Finbar have both posted profits for the first half of the 2021 financial year.

ASX-listed Finbar Group has released some of its apartment investment stock in Karratha to the market, off the back of a strong regional property market.

Finbar has forecast a net profit of $8.4 million for the past financial year, representing an 18 per cent increase on the previous reporting period.

Developers are pushing ahead with apartment projects, despite uncertainty clouding construction costs.

Finbar Group has lodged plans for a two-tower apartment building on the site of the heritage-listed chemical labs in East Perth.

Apartment developer Finbar Group says confidence in the investor market is improving, demonstrated by strong interest in its $97 million Rivervale apartment complex.

Finbar Group’s two-tower apartment complex on an East Perth heritage-listed site is closer to going ahead, after the project was recommended for approval.

The state’s peak planning body has given Finbar Group the green light to proceed with its $207 million plan to build two apartment towers in East Perth.

Recent transactions show investors are coming back to WA after a significant drop.

Finbar Group managing director Darren Pateman has played down concerns about water egress at the construction site of its $404 million twin tower Civic Heart apartment development.

The state’s expedited planning pathway has been inundated with a dozen planning applications valued at $1.18 billion on the eve of its closure.

The owners of 100 Mill Point Road are suing Hanssen over allegations its "negligence" on Finbar’s Aurelia project led to a basement flood that displaced tenants.

Apartment developer Finbar Group has forecast a net profit of $11 million for the financial year, which would be a 15 per cent increase from the previous period.

Finbar Group’s proposal for a 19-storey riverside apartment building is out for public comment as the East Perth-based developer continues its expansion in the Rivervale area.

Apartment developers are facing increasing costs amid tightening margins and constrained supply.

A company belonging to Monadelphous chair John Rubino has bought $6.7 million worth of shares in WA apartment developer Finbar, adding another link to the pair’s business relationship.

Maddington glass supplier Modern Glass is resuming its operations after its former owner came out of retirement.

No new apartment stock has been launched to the Perth market during the third quarter of 2022, as developers wait for unit prices to catch up with rapidly rising construction costs.

Finbar Group's Rivervale project has cleared a planning hurdle after the state's planning commission approved the $39 million proposal.

Perth’s commercial property market is undergoing a shift similar to that experienced three decades ago.

The main players pin hopes on pent-up demand for new stock, as interest rates stabilise and buyers begin to accept higher prices.

The state government has expanded the stamp duty rebate to apartments under construction, in a bid to bolster supply.

Developments in South Perth have faced many stumbling blocks, but the high-rise precinct is taking shape.

Nadia Budihardjo and Claire Tyrrell discuss the onset of high-rise development in South Perth.

The $440 million South Perth tower is about six months away from completion, but a state government policy means buyers are being taxed ahead of settlement.

Recent data from Urbis shows apartment supply is increasing, but it is still not expected to meet demand.

The number of apartments reaching completion in 2024 will be up on previous years, but concerns remain for future supply.

The ASX-listed developer has been given the green light to build a 12-storey apartment project in the suburb.

Darren Pateman, who spent three decades at the ASX-listed developer, is stepping down as part of a leadership transition that puts three members of the Chan family in key roles.

Our weekly appointments wrap includes Peter Campbell, Paul Gamblin, Gemma Farrell, John Langoulant, Ronald Chan and Melissa Chan.

The prominent apartment developer says the government is squeezing out the private sector by investing in construction projects during a period of high economic activity.

ZACD Group has sold the Murray Street serviced apartments to Capital Bay Investment, which plans to retain the hotel’s affiliation with Accor.

The Western Australian Indigenous Tourism Operators Council (WAITOC) has announced the appointment of Neville Poelina as the new WA state representative on the WAITOC board.

This year’s state property awards recognised the Multiplex WA regional director for his three decades of service as a commercial property developer in Perth.

Finbar has signed on to sell the site to develop a Housing Australia-supported $100 million social and affordable housing project.

The $5.5 million acquisition should pave the way for the apartment developer to add 130 dwellings to its portfolio.

The listed apartment developer says it has $36 million cash in hand, as it eyes a $1 billion pipeline of work.

Social and affordable housing is becoming a dominant form of development.

The fund manager is expected to attract more than double what it paid for the South Hedland apartment building.

Developers of multi-residential properties are overcoming challenges to push on with projects.