DAVY VIEW

Cairn Homes has announced another forward sale to the private rented sector (PRS). This provides enhanced visibility and certainty on future revenues. In addition, the group has revealed a €21.5m land acquisition in Clonburris, Dublin 22. This will extend Cairn’s presence in the area where it will lead the development of a new, well located community. Our model already assumes €100m in land purchases over the next three years and, hence, the land purchase does not change the group’s significant capital returns potential.