Monday 18 December 2017

Cairn Homes to build over 100 apartments on Dublin's Hanover Quay site

Cairn Homes listed on the London Stock Exchange in June.
Cairn Homes listed on the London Stock Exchange in June.

Paul O'Donoghue

Irish homebuilder Cairn Homes has said it is acquiring a site in Hanover Quay in the Dublin Docklands for €18m.

The company said the acquisition is expected to be complete in early February.

It said the site will allow for the development of "in excess of 100 apartments". The site has existing planning permission, which Cairn said will allow it to begin construction this year.

It has been acquired from a sub-fund of Targeted Investment Opportunities ICAV, which counts NAMA, Bennett Construction and Oaktree among its partners.

Cairn chief executive Michael Stanley said that the Hanover Quay site represents a "key achievement for the company."

He added: "[It] provides Cairn with the opportunity to provide much-needed quality homes in the Dublin business centre and 'Silicon Docks' area of the city, which has a particularly acute demand for new homes."

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