Cairn Homes launches first development at Parkside

RNS Number : 0887A

Cairn Homes plc

24 September 2015

 

PRESS RELEASE

Cairn Homes launches its first development at Parkside

Thursday 24 September:  Cairn Homes Plc, has today officially launched its first development at Parkside, Malahide Road, Dublin 13. The recently listed company is intent on setting a high standard and the opening phase of the North Dublin development has 25 stylish three and four bedroom family homes on offer, priced between €299,000 and €385,000.

Ranging in size from 110-150sq.m (1,189sq.ft-1,615sq.ft) in a number of high quality brick elevation styles, each house includes an impressive array of features as standard, a quality design and a high specification finish inside and out with landscape design by Dominick Murphy. All incorporate the latest construction technology to ensure an A3 BER rating and outstanding energy performance.

The well-located site also has excellent transport, leisure, retail and community amenities in place, with two new primary schools with capacity for 1,000 students planned to open in 2017 to replace temporary schools already on site.

Officially opening the Parkside show houses, designed by award-winning architect and interior designer, Denise O'Connor, Michael Stanley, CEO, Cairn Homes plc, said: "We are delighted to officially launch Cairn's first development and to bring a range of high quality new homes to the market at Parkside. As rent continues to increase across Dublin, there is strong demand for affordable family homes and we look forward to addressing that need with a superior product on well-located sites in Dublin and throughout the country."

The formal Parkside launch comes just four months after Cairn raised in excess of €440 million in its float on the London Stock Exchange in June this year.  It is the group's first instalment of a national pipeline of prime sites in areas of significant undersupply.

Currently the group's largest development, the c. 50 acre Parkside site has zoning potential for a total of 433 homes and Cairn expects to complete the first 200 homes before the end of 2016. Dublin City Council requires a minimum of 13,751 new homes to meet demand - 38.8% of a total shortfall of 35,433 homes across the greater Dublin region, according to a 2014 Society of Chartered Surveyors Ireland report.

Cairn currently has nine sites at various stages of development, planning and construction, with further launches planned for 2016.

Notes to Editor:

Parkside is available for sale through selling agents Hooke & MacDonald. Show houses are open on Thursday 4.30-6.30p.m; Friday 12-2p.m, Saturday and Sunday 2-4p.m. (24^th-27^th September). Prices for the first phase of 25 houses are from €299,000 for the three bedroom houses (107-110sq.m/1151-1183sq.ft) and from €345,000 for the four bedroom houses (132-150sq.m/1420-1614sq.ft). www.parksidehomes.ie 

SCSI - Society of Chartered Surveyors, Sept 2014 Report: The Housing Supply Capacity in Dublin's Urban Settlements 2014-2018 estimates a minimum  13,751 housing units are required in  Dublin City Council from 2014-18. Full report available at the link below.

http://www.futureanalytics.ie/data/SCSI-FAC%20Housing%20Supply%20Capacity%20Report.pdf  

For more information please contact Maria Cryan or Edel Bach at Hume Brophy on 016624712.

Maria Cryan, E: [e-mail]; T: 0867749715

Edel Bach, E: [e-mail]; T: 0860453821

About Cairn Homes plc

Cairn Homes plc is an Irish homebuilder with a highly experienced management team. The Group is committed to constructing high quality new homes with an emphasis on design, innovation and customer service. The Group expects to acquire greenfield or brownfield sites in Ireland that are suitable for residential development, with an emphasis on Dublin and the Dublin commuter belt, as well as in Cork and Galway and other major urban centres, as appropriate. www.cairnhomes.com 

 

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