Cairn Homes and Hines Ireland deal for Cherrywood
Cairn Homes, the Irish house-builder and real estate firm, Hines Ireland agreed on a deal to purchase two sites in Cherrywood, Dublin for €21.5m. As part of the deal Cairn also has the option to buy a third site for €9.2m on receipt of planning permission.
The €30.7m agreement aims to build more than 300 new homes under the masterplan for the Cherrywood Strategic Development Zone in South Dublin.
Cairn has purchased two lots in Cherrywood for €21.5m, with an option to purchase a third lot for €9.2m on receipt of planning permission.
Hines first bought the Cherrywood site in November 2014.
The companies said that planning applications for the key initial infrastructure for the project were lodged in late 2015.
Work is well underway to submit planning applications for the project’s town centre in the middle of 2016 to deliver the first homes on site, they added.
