Finbar Group Limited · ASX:FRI
Finbar — Corporate Update (February 2025)
30 slides from Finbar's corporate update, Feb 27, 2025
Slide 1: 1
1
Slide 2: Development Sales Activity Update
DEVELOPMENT SALES ACTIVITY UPDATE 2 GARDEN TOWERS
Slide 3: Total Number of Sales per Month
TOTAL NUMBER OF SALES PER MONTH “Consistent sales rates comprising mix of both OTP sales and completed stock ” 100 90 87 80 74 70 60 56 49 51 49 50 44 43 42 46 47 45 43 40 40 40 40 37 38 37 34 34 35 35 TO-DATE 32 33 32 32 32 24 31 28 26 31 24 FEB 25 29 29 26 29 26 29 30 26 27 27 26 27 23 25 24 2425
Slide 4: Average Sales Value (Per Unit) - Financial Year
AVERAGE SALES VALUE (PER UNIT) - FINANCIAL YEAR $1,400 700 Units Thousands “Increased sales of premium product offering have contributed to a rise in average prices in line with market trends” $1,172 $1,200 600 $1,000 500 $863 $852 $800 $730 400 $706 $678 $686 $648 $629 $617 $611 $626 $598 $601 $577
Slide 5: Completed Stock Sell Down
COMPLETED STOCK SELL DOWN COMPLETION “$192 million in debt free completed stock in process of being sold down at an average of $13.3m per month” COMPLETION $300 Millions COMPLETION $248 $250 COMPLETION $212 COMPLETION COMPLETION COMPLETION $204 $200 $192 $172 $179 $179 $158 $163 $157 $153 $150$146 $
Slide 6: Total Presales Held (Value) - Month to Date
6 Millions $- $100 $200 $300 $400 $500 $700 $600 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 NORWOOD May-16 Jul-16 LINQ Sep-16 ARBOR NORTH SUBI STRAND & TOCCATA Nov-16 Jan-17 UNISON ON TENTH Mar-17 TOTAL PRESALES HELD (VALUE) May-17 MOTIVE Jul-17 Sep-17 Nov-17 CONCERTO Jan-18 Mar-18 May-
Slide 7: Investor Sales vs Owner Occupier per Calendar Qtr
INVESTOR SALES VS OWNER OCCUPIER PER CALENDAR QTR 140 “Owner occupiers dominating recent sales 90% by favouring completed stock” 78% 80% 120 69% 68% 70% 100 60% 53% 80 50% 47% 40% 60 30% 40 32% 31% 20% 22% 20 10% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 8: Yearly FIRB Sales
YEARLY FIRB SALES Units “Foreign sales has increased in 2024 with 100 stamp duty concessions for off-the-plan sales” 90 80 70 60 50 40 30 20 10 34 54 34 89 77 44 65 86 21 27 19 38 37 42 1 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 FOREIGN BUYER SURCHARGE TAX INTRODU
Slide 9: Completed Projects
PROJECT UPDATE COMPLETED PROJECTS 9 CIVIC HEART
Slide 10: Reva South Perth
REVA SOUTH PERTH 5 HARPER TERRACE, SOUTH PERTH Project: Reva consists of 41 luxury apartments plus 18 commercial lots of ground floor retail and level one office space. ▪ Status: Completed January 2019 ▪ Ownership: Wholly owned through subsidiary ▪ Value: ~$46.6 million ▪ Completed: FY19 ▪ Average p
Slide 11: AT238 Perth
AT238 PERTH 238 ADELAIDE TERRACE, PERTH Project: AT238 consists of 119 one, two, and three bedroom apartments plus 2 ground floor commercial on 1,697m2 land over 31 levels. ▪ Status: Completed. All units sold, one remaining to settle. ▪ Ownership: 50% JV through SPV ▪ Value: ~$100.2 million ▪ Comple
Slide 12: Civic Heart
CIVIC HEART 1 MENDS STREET, SOUTH PERTH Project: Civic Heart consists of 309 one, two, and three bed apartments plus 26 commercial lots. ▪ Status: Completed ▪ Ownership: 52.5% JV with landowner ▪ Value: ~$448.6 million ▪ Completion: FY24 ▪ Average Price: $1.34m ▪ Sales: No. Units FOR $ Value FOR SAL
Slide 13: The Point
THE POINT 31 ROWE AVENUE, RIVERVALE Project: The Point consists of 167 one, two, and three bedroom apartments plus nine ground floor commercial units. ▪ Status: Completed ▪ Ownership: 65% JV with landowner ▪ Value: ~$113.5 million ▪ Completion: FY25 ▪ Average Price: $645k ▪ Sales: No. Units $ Value
Slide 14: Aurora
AURORA 3 KINTAIL ROAD, APPLECROSS Project: Aurora consists of 118 one, two, and three bed apartments plus three ground floor commercial units. ▪ Status: Completed ▪ Ownership: 50% JV with landowner ▪ Value: ~$158.3 million ▪ Completion: FY25 ▪ Average Price: $1.31m ▪ Sales: No. Units $ Value FOR FOR
Slide 15: Projects Under Construction
Development Activity Update PROJECTS UNDER CONSTRUCTION 13 15 GARDEN TOWERS
Slide 16: Garden Towers
GARDEN TOWERS CNR PLAIN STREET & HAY STREET, EAST PERTH Project: Garden Towers will consist of 331 one, two, and three bed apartments, plus 13 commercial lots. ▪ Status: Under Construction ▪ Ownership: 50% JV through SPV ▪ Value: ~$276.7 million ▪ Est. Completion: FY26 ▪ Average Price: $804k ▪ Sales
Slide 17: AT238 Construction Progress
AT238 CONSTRUCTION PROGRESS 17 17
Slide 18: Bel-Air
BEL-AIR 239 GREAT EASTERN HIGHWAY, BELMONT Project: Bel-Air will consist of 194 one and two bedroom apartments, plus two commercial lots ▪ Status: Under Construction ▪ Ownership: Wholly owned through subsidiary ▪ Value: ~$113.2 million ▪ Est. Completion: FY26 ▪ Average Price: $578k ▪ Sales: No. Unit
Slide 19: Civic Heart Construction Progress
CIVIC HEART CONSTRUCTION PROGRESS 19 19
Slide 20: Development Approval Received
DEVELOPMENT APPROVAL RECEIVED 20 20 RIVERBANK APARTMENTS
Slide 21: Riverbank Apartments
RIVERBANK APARTMENTS 32 RIVERSDALE ROAD, RIVERVALE Project: Riverbank Apartments comprises 4,069m2 of absolute waterfront land with expansive views of the Swan River, Stadium Precinct, and Perth CBD. Approval received for 143 residential apartments. ▪ Status: Development Approval Received. Marketing
Slide 22: Romeo
ROMEO 912 CANNING HIGHWAY, APPLECROSS Project: Romeo will consist of approximately 152 one, two, and three bed apartments, and ROMEO three ground floor commercial lots. ▪ Status: Development Approval Received ▪ Ownership: 50% JV with landowner ▪ Value: ~$155 million ▪ Est. Completion: TBC ▪ Sales: N
Slide 23: Palmyra West
PALMYRA WEST 47 MCGREGOR ROAD, PALMYRA Project: Palmyra West will consist of approximately 130 one, two, and three bedroom apartments. ▪ Status: Development Approval Received ▪ Ownership: 50% JV with landowner ▪ Value: ~$80 million ▪ Est. Completion: TBC ▪ Sales: No. Units $ Value FUTURE FUTURE RELE
Slide 24: 6 Homelea Court
6 HOMELEA COURT CNR ROWE AVENUE AND HOMELEA COURT, RIVERVALE Project: 6 Homelea Court will consist of approximately 171 apartments over 12 levels on a 3,770m2 site. ▪ Status: Development Approval Received ▪ Ownership: Wholly owned through subsidiary ▪ Value: ~$100 million ▪ Est. Completion: TBC 24 *
Slide 25: In Planning, Approval Process, or Design
IN PLANNING, APPROVAL PROCESS, OR DESIGN 25 25 25 6 HOMELEA COURT
Slide 26: Lot 888
LOT 888 LOT 888 ROWE AVENUE, RIVERVALE Project: Lot 888 comprises of 2370m2 of land within The Springs, Rivervale Precinct. ▪ Status: Development application currently being prepared for lodgment for a 108-unit project over 15 levels. ▪ Ownership: 50% JV through SPV ▪ Value: ~$57.0 million ▪ Est. Co
Slide 27: ABC Heritage Building
ABC HERITAGE BUILDING 187 ADELAIDE TERRACE, EAST PERTH Project: Harmony comprises the former ABC Radio Studios heritage building with a GFA of 3,711m2 over 3 levels. ▪ Status: Land bank for future use ▪ Ownership: Wholly owned through subsidiary ▪ Value: TBC 27 27
Slide 28: Current Pipeline
CURRENT PIPELINE $1.2b RESIDUAL PIPELINE $’m 500 $390m UNDER CONSTRUCTION 450 400 350 300 250 200 150 100 50 0 Reva AT238 Civic Heart Aurora The Point Garden Towers Bel-Air Riverbank Romeo Palmyra West Harmony 6 Homelea Court Lot 888 Apartments Sold Stock Value $m Remaining Stock Value $m 28 28
Slide 29: Units Developed to Date & Pipeline
UNITS DEVELOPED TO DATE & PIPELINE 540 708 Units 10000 9000 8000 7407 7000 6000 5000 4000 3000 2000 1000 0 96 97 98 99 00 01 03 04 05 07 08 09 10 11 12 13 14 15 16 17 18 19 20 22 23 24 DEVELOPED UNDER CONSTRUCTION FUTURE PROJECTS 29 29
Slide 30: Important Notice
Important Notice Future performance and forward looking statements This announcement contains certain forward looking statements with respect to the financial condition, results of operations, projects and business of Finbar and certain plans and objectives of Finbar. Forward looking statements can