Cairn Homes Plc (LON: CRN) has entered into a conditional agreement with the Emerald Fund ICAV to acquire the former Esmonde Motors Garage premises.
- The acquisition also includes the adjoining land located at Stillorgan Road and the Hill, Stillorgan, Co. Dublin.
- The acquisition is for an overall cash consideration amount of €14,000,000 and will be payable in two tranches, first of 50 per cent to be paid at completion and the next tranche of 50 per cent shall be payable on 1 July 2021.
- The site which is a strategic fit with the Group's existing landbank and in particular its touching development site in Stillorgan, encompasses 1.35 acres of derelict brownfield.
- On 10 September 2020, at the time of writing, GMT 10:00 AM, CRN shares were trading at EUR 0.81, up by 0.01 points or 0.75% against the previous day closing price.