Perth developer Finbar Group has lodged a development application for a $230 million twin-tower apartment project at 236 Railway Parade, West Leederville, directly opposite the suburb’s train station and about 2 km from the Perth CBD.

Filed with the Metro Inner Development Assessment Panel on 24 March 2026 (reference DAP/26/03082), the application proposes two towers of 18 and 19 storeys containing 244 apartments and ground-floor commercial space. Finbar (ASX: FRI) paid $15.7 million plus GST for the 4,997 sqm site and settled on 15 April 2026, according to the company’s ASX announcement. The DAP filing lists a construction cost of $94.2 million.

CEO Ronald Chan said the project’s scale gives the company room to keep costs in check. “The substantial scale of this site, with proposed potential for two eighteen-storey towers, will allow the Company to obtain scale benefits which will underpin the delivery of a medium-cost, well-located project,” he said. Chan, who took the top job at Finbar in June 2025, described the DA lodgement as “an important milestone for this strategically positioned West Leederville site.”

The deal was contingent on planning certainty. The Western Australian Planning Commission formally adopted the West Leederville Precinct Structure Plan in February 2026, unlocking the density needed for towers of this height. Finbar had contracted to buy the site in July 2025, subject to that adoption.

Selling agent Brian Neo of Sterling Property said the location stacks up. “West Leederville has the amenity, the transport infrastructure, and the planning trajectory to support a project of this scale,” he said. Sterling is also marketing an adjoining 1,970 sqm site with 18-storey potential, pointing to more density coming to the precinct.

The site currently holds a 1957 theological college building earmarked for demolition. Finbar’s previous West Leederville project, Motive Apartments, sits about 400 metres away and was completed in 2017. If approved, the new towers are expected to contribute to Finbar’s earnings in FY2029 and FY2030. The company’s total development pipeline now exceeds $1.6 billion across more than 1,500 apartments.

For Perth trades, a 244-apartment twin-tower build means sustained work across demolition, civil, concrete, formwork, facade, fit-out, and mechanical, electrical, and plumbing disciplines over a multi-year programme. With the Precinct Structure Plan in place and a neighbouring site already on the market, the Rosslyn Quarter looks set to keep inner-ring Perth subbies and suppliers busy well into the next decade.

Frequently asked questions

What is the construction cost of Finbar’s West Leederville towers?

The DAP filing lists a construction cost of $94.2 million. The overall project end value is stated at $230 million.

When could the West Leederville towers be completed?

If the DA is approved, the project is expected to contribute to Finbar’s earnings in FY2029 and FY2030, indicating construction would run through the late 2020s.

What enabled towers of this height in West Leederville?

The Western Australian Planning Commission adopted the West Leederville Precinct Structure Plan in February 2026, which unlocked the density required for 18 and 19-storey buildings on the site.

Sourced from Listcorp (ASX announcement), SkyscraperCity Forum (DAP register), Sterling Property. Original article.