RTÉ Acquisition Completion

RNS Number : 1823L

Cairn Homes plc

17 July 2017

 

17 July 2017

Cairn Homes plc

Cairn Homes plc Announces Completion of the Acquisition of the RTÉ Montrose Site

Dublin/London, 17 July 2017: Cairn Homes plc ("Cairn", or the "Company") (LSE:CRN), the Irish homebuilding company, announces that it has completed the acquisition of 8.64 acres of land from RTÉ, Ireland's national broadcaster, at its Montrose campus in Donnybrook, Dublin 4.

The total consideration for the purchase was €107.5 million.

The acquisition of the RTÉ Montrose Site is another milestone for the Company as it continues to implement its strategy of building exceptional homes in great locations. The Company is now fully focused on the design and pre-planning stage with a view to achieving a planning permission befitting the quality and location of the RTÉ Montrose Site. 

For more information, please contact:          

Cairn Homes plc                                                                                              [phone]

Michael Stanley

Eamonn O'Kennedy

Powerscourt                                                                                                    [phone]

Justin Griffiths

Jack Hickey

Drury Communications                                                                                 [phone]

Billy Murphy

Morwenna Rice                                                                                    

Notes to Editors

Cairn Homes plc is an Irish homebuilder with a highly experienced management team.  The Company is committed to constructing high quality new homes with an emphasis on design and innovation in attractive locations to meet sustainable market demand. Cairn has a land bank of 12,600 units, over 90% of which is located in the Greater Dublin Area ("GDA"). Currently, Cairn is active on eight sites in the GDA, which will deliver 3,250 units.

 

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