More Cairn Ka-CHING!

Aldoborough Manor & Hall WEDS1FEB23

urrently dominating the Greystones landscape, Cairn Homes have just secured approximately €131m from 216 new homes here.

Sold to approved housing body Tuath Housing and to the Land Development Agency, the sale involves two local developments.

Just before Christmas, Tuath purchased 174 apartments at Cairn’s Hawkins Wood scheme – numbers 1-84 Aldoborough Hall for €34,025,000 in November and 1-90 Aldoborough Manor for €36,980,000 in December. The average price per unit working out at €408,074.

Commenting on the purchases, a Tuath spokesperson said, “Tuath worked collaboratively with Wicklow County Council, the Department of Housing Local Government & Heritage, and the Housing Finance Agency, to provide 174 high-quality new-build homes (1,2 and 3 beds) in Greystones. The development showcases public, private, voluntary partnership, resulting in the creation of a mixed-tenure community, which has enabled Tuath to provide much-needed homes at permanently affordable rents to individuals and families unable to afford to buy or rent in the private market.”

In the neighbouring Archers Wood, the Land Development Agency reportedly paid €60m to secure 142 new homes, at an average of €422,535 per unit. The LDA recently launched its first cost-rental scheme in November, with 48 of the A-rated units going to market with rents starting at €1,455 per month for two-bedroom apartments, rising to €1,550 for three-bedroom duplexes. There will be a second lottery this month for the remaining 94 Archers Wood homes.

Speaking of the social and affordable housing market scheme, Cairn Homes CEO Michael Stanley told Ronan Quinlan of The Irish Times, “Cairn is proud to have become the first company in Ireland to deliver over 1,500 new homes in a calendar year. This included a broad mix of first-time buyer houses and duplexes, houses and apartments for second-time buyers, and apartments for the private and affordable rental markets. Our completions last year also included 495 new social and affordable homes delivered across our larger developments nationwide.

“We expect to significantly grow this output in 2023 and to continue to provide value and timely delivery for our partners in local authorities, approved housing bodies and the Land Development Agency.”