Belfast Telegraph

1000 homes to built as part of £180m project in Northern Ireland

By John Mulgrew

A thousand new homes are due to be built across Northern Ireland in one of the biggest investments in recent years - worth up to £180m.

Fraser Homes Limited has entered into an agreement with Gardrum Holdings Ltd, part of the EuroAuctions group, to deliver 1000 homes over the next 10 years.

The major deal was brokered by Simon Brien of Simon Brien Residential.

The project could be worth around £180m.

Houses will range between £120,000 and £400,000.

David Fraser of Fraser Homes, said:

“For over 50 years we have built over 4,500 high quality homes across Northern Ireland and we are pleased and proud that our tradition and family heritage in house building  will continue under this new agreement. We are also pleased to be joining another Northern Ireland family company with similar values and the same commitment to excellence as we have always had. This augurs well for the new generation of homes we will be building.

And Simon Brien said: “This new and very welcome agreement between Gardrum Group and Fraser Homes is very important in a rising marketplace because it will provide new, high quality homes in areas of high housing demand. Bringing Fraser Homes and Gardrum Group together in this way can only be good for the Northern Ireland housing market and we expect a steady supply of new homes to be coming to the market place almost immediately as a result of this agreement.”

Derek Keys of EuroAuctions said that “for number of years now, there has been an under-supply of new houses being built in the Northern Ireland marketplace alongside increasing demand for first time buyer and family homes”.

“We are currently active in the residential construction market in mid-Ulster and the west and we see this agreement with Fraser Homes as a perfect opportunity to give us an expanded presence across the whole of Northern Ireland given Fraser’s extensive land holdings in the greater Belfast area.”

Belfast Telegraph Digital

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.