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Cairn Homes snaps up Dublin sites for €105.6M

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Cairn Homes snaps up Dublin sites for €105.6M

said itcompleted the acquisition of six sites in the Greater Dublin area through theacquisition of a holding company and its business for €105.6 million.

The ArgentumProperty portfolio includes around 165 acres of land. Construction on a 37-acresite in Ashbourne is underway, while planning consent has been obtained for a60-acre site in Greystones.

Further,the homebuilder said in a news release that an additional payment of €10million will be due if a 28-acre site in Swords is rezoned for residentialdevelopment.

CairnHomes CEO Michael Stanley said the acquisition will enable the company toprovide "much needed" family homes in the Greater Dublin area, accordingto the news release.