Irish housebuilder Cairn Homes has transferred four further sites from the Project Clear loan portfolio to its direct asset ownership.
The four sites have the combined potential to deliver in excess of 1,150 homes.
It bought the portfolio from Ulster Bank in December 2015 and has stated it aims to convert 90% of the loans into direct ownership by the end of 2016.
The sites comprise 71 acres on the South Ring Road in Naas, County Kildare; 7.6 acres at Athgarvan Road, Newbridge, County Kildare, a 145-acre mixed-use development site in Blessington, County Wicklow; and 6.6 acres at Donabate, County Dublin.
Cairn Homes chief executive Michael Stanley said: “Following our successful IPO in June last year, Cairn has experienced a transformative year of strategic acquisition and investment, delivering a strong pipeline of very well located development land.
“In the past 12 months we have acquired a core landbank of 25 development sites with the combined capacity to deliver in excess of 11,000 homes.”
• To send feedback e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette
