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.
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