Cairn Homes (CRN.L, CRN LN)
Cairn Homes is an Irish domestic housebuilder. It was created in 2015 and is listed on the Irish Stock Exchange and the London Stock Exchange. The company builds houses and apartments exclusively in Ireland, with a large exposure to the greater Dublin area. However, Cairn Homes already has some exposure outside the capital (Meath and Galway) and is likely to have some presence in larger urban towns across the country. The acquisition of Ulster Bank's Project Clear portfolio has utilised most of the company's resources and created a significant platform to launch its strategy of medium-term volumes of 1,200 units. The ramp-up to this level will take almost four years, and the company will opportunistically seek further land investment over this period.
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