Cairn Homes plc Update on Planning Grants (5372T)

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RNS Number : 5372T

Cairn Homes plc

13 October 2017

13 October 2017

Cairn Homes plc

Update on Planning Grants

Dublin/London, 13 October 2017: Cairn Homes plc ("Cairn", or the "Company") (ISE:CRN, LSE:CRN), the Irish homebuilding company, announces that An Bord Pleanála has granted full planning permission for the construction of 86 apartments at Cairn's site at Greenfield Park, Donnybrook, Dublin 4, in what will be a premium scheme in one of Dublin's most prestigious residential locations. The site previously had planning for 70 units. The Company expects to commence construction in early 2018.

This follows on from Wicklow County Council's recent grant of full planning permission for the construction of 192 residential units at Phase 2 of Cairn's Glenheron development in Greystones, Co. Wicklow. The construction of Phase 2 will commence immediately. In addition, full planning permission has also been granted by Dublin City Council for 22 additional large houses at Cairn's successful Marianella development in Rathgar.

In securing these planning permissions, Cairn continues its strong track record of planning enhancement.

The Company also welcomes the recent Government announcement that new planning guidelines in relation to the design of apartments and apartment buildings will be put in place by the end of the year. These proposed changes include the removal of numerical height caps and mandatory basement car-park provisions. This will enable Cairn to increase the delivery of much needed apartments over the coming years through the more efficient use of its well-located Dublin City apartment sites.

-ENDS-

For more information, please contact:

Cairn Homes plc [phone]

Michael Stanley

Tim Kenny

Powerscourt [phone]

Justin Griffiths

Jack Hickey

Drury Porter Novelli [phone]

Billy Murphy

Morwenna Rice

Notes to Editors

Cairn Homes plc is an Irish homebuilder committed to building high-quality sustainable homes in excellent locations and providing unparalleled customer service at each stage of the home-buying journey. Cairn's highly experienced management team has a clear vision of delivering innovative and thoughtfully designed homes which meet market demand and enhance communities by placing home owners at the very centre of the design process. The Company owns 33 residential development sites with capacity for over 12,700 new homes, over 90% of which are located in the Greater Dublin Area (GDA) with excellent public transport and infrastructure links. Cairn is today building on nine sites in the GDA, which will deliver over 3,250 units.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 13, 2017 03:52 ET (07:52 GMT)