Quintain launches Irish subsidiary to develop over 9,000 homes

WCN Editorial Team 28 Oct 2019 EUROPE BUILDINGS

London-based property investment business Quintain has formed a new subsidiary in Ireland for the development of over 9,000 homes and 600,000ft of commercial space.

Known as Quintain Ireland, the new subsidiary will be responsible for residential development of more than 460 acres of prime assets at Adamstown, Clonburris, Portmarnock, and Cherrywood in Ireland.

All the sites are owned by affiliates of Lone Star Funds and will be managed by Quintin.

With support from a 12-person team, Quintin Ireland aims to replicate its parent company’s success in Ireland.

The existing portfolio of 460 acres will make Quintin the third-largest residential developer in the country. Out of the over 9,000 homes to be built, Adamstown will be home to nearly 5,000 homes across 220 acres of land, with further land at the neighbouring Clonburris site, where nearly 350 homes will be built.

Cherrywood site of 120 acres was recently acquired and it is expected to have a capacity of 3,000 homes. Furthermore, 87 acres in Portmarnock has the potential to house 1,000 homes.

Quintin Ireland intends to use its experience in delivering the homes and aims to expand its portfolio for future development projects.

Over the next 25 years, the Irish team is expected to grow substantially to manage a range of local construction partners. The Irish team will be fully integrated with the wider London-based team.

Quintain CEO James Saunders said: “Quintain has been actively looking at new opportunities to expand its business for some time and I am therefore extremely proud to announce our expansion into Ireland, with a huge commitment to take on the delivery of more than 9,000 homes across four sites spanning 460 acres in Greater Dublin.

“We have an established team on the ground in Ireland led by Eddie Byrne and Michael Hynes, who have over 40 years’ experience in the Irish and international property market. When you mix this local expertise with Quintain’s track record in taking forward major mixed-use development schemes, I am confident we will turn these sites into exemplary new places.

Quintain Ireland joint managing partner Eddie Byrne said: “We are excited to launch this new venture, with the potential to deliver more than 9,000 new homes in the Greater Dublin area, where there is a pressing need for increased housing supply.

“Quintain Ireland will combine the knowledge of our team on the ground with the wealth of expertise of our parent company in delivering major residential projects. In 2020 we expect to more than double the size of our team in Ireland and expand our development pipeline.”

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Image: Quintin to build 9,000 homes in Ireland. Photo: Courtesy of chapay/Pixabay

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