Irish housebuilder Cairn Homes is seeking €90m (£77.2m) in forward-funding for its build-to-rent scheme in Dublin’s Citywest Quarter.
Cairn has appointed Savills and Hooke & MacDonald to sell the 282-home scheme, which is currently under construction. The sale price of €90m reflects an average unit price of €319,150.
Citywest Quarter is adjacent to the Fortunestown light rail stop, providing access to Dublin city centre, and the Citywest Business Campus, which is home to more than 200 companies employing more than 8,000 staff in pharmaceutical, medical, finance, IT and software and telecoms companies.
Michael Stanley, co-founder and chief executive at Cairn Homes, said: “The sales process is aimed at institutional investors. We are now active on 14 individual sites in the Greater Dublin area and continue to see significant demand for our new homes from individual buyers, and from institutional buyers for some of our larger apartment sites.”
The housebuilder has also received planning consent for 385 homes on its Griffith Avenue site. It follows successful applications at Marianella, Rathgar for 107 flats and at Cross Avenue, Blackrock for 221 flats.
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