Developer Cairn Homes said on Tuesday that it sold 30 houses in Phase 1 of its Parkside development on Malahide Road, Dublin, on its opening weekend.
The properties, which sold for an average sale price of €342,000, attracted interest from young families, with a large proportion of first time buyers, Cairn said.
Cairn has now released an additional 30 homes for sale, after going sale agreed on 30 houses in Phase 1 in its opening weekend, achieving an average sale price of €342,000.
Currently the group’s largest development, the c. 50 acre Parkside site has zoning potential for a total of 433 homes when complete and Cairn expects to complete the first 200 homes before the end of 2016.
In addition to Parkside, Cairn Homes has eight further sites currently at various stages of development, planning and construction, including projects in the Dublin suburbs of Killiney and Rathgar.
Established last year by Michael Stanley and Scottish accountant Alan McIntosh, the company reported half-year revenues of € 51 million for the six months to the end of June. In the same month, it became the first Irish homebuilder to float on the stock market since McInerney Holdings in 1997, raising € 400 million in equity capital.
