The deal will see Golden Egg Farms’ 26,642 square metre site on Leach Highway turned into 254 medium density apartments.

Finbar strikes Palmyra deal

The owners of egg producer Golden Egg Farms are set to reap a big profit after striking a deal with apartment developer Finbar Group for a $109 million project in Palmyra.

Under the terms of the deal, Golden Egg Farms’ 26,642 square metre site on Leach Highway will be turned into 254 medium-density apartments.

Golden Egg Farms will provide the land for development, Finbar will contribute the working capital and obtain finance, and the two parties will share equally in development profits.


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We would be very interested in this location. We had committed to one of the Alfred Cove Apartments on Kitchener Road Alfred Cove Stage 1. Unfortunately the Plans & Development for the Apartments were withdrawn and did not go ahead.

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Finbar Group (FRI)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 28/02/17

1 year TSR5 year TSR
151stResource Development Group136%-35%
275thJoyce Corporation59%37%
466thFinbar Group12%5%
527thMerchant House International0%14%
676thCash Converters International-30%-8%
694 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$43k Bought
$44k Bought
$44k Bought
Total value as at the date of the transaction
Source: Morningstar


43rd↓Finbar Group$108.4m
46th-Merchant House International$95.5m
47th↓Cash Converters International$91.6m
50th↑Resource Development Group$69.5m
51st↑Joyce Corporation$56.8m
221 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Finbar Group

103rdDarren Pateman$876k
134thJohn Chan$751k
367thRonald Chan$416k
Ranked by total remuneration from all listed WA companies

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