Monday 16 September 2019

Glenveagh spends €31m on sites capable of delivering 650 homes

Stock photo: Bloomberg
Stock photo: Bloomberg
Ellie Donnelly

Ellie Donnelly

Glenveagh has spent €31m on three sites in Meath, Wicklow, and Dublin.

The site at the south fringes of Drogheda, County Meath cost the group €7m and has the potential to deliver 300 homes.

In Kilruddery, County Wicklow, the group spent €10m on land that will deliver 150 units, while in Howth, Glenveagh forked out €10m on seven acres capable of delivering 200 homes.

All three developments have been marked for both the first-time-buyer market and the private rental sector.

So far this year Glenveagh has spent around €106m on six acquisitions.

The group reported revenue of €45.5m in the six months to 30 June.

The company made a net loss after tax of €3.5m for the period, down from a loss of €7.2m in the same period last year.

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