Belfast Telegraph

Glenveagh well on course to exceed targets

Irish housebuilder Glenveagh is on course to significantly exceed its sales targets this year, according to Davy Stockbrokers (stock photo)
Irish housebuilder Glenveagh is on course to significantly exceed its sales targets this year, according to Davy Stockbrokers (stock photo)

By Michael Cogley

Irish housebuilder Glenveagh is on course to significantly exceed its sales targets this year, according to Davy Stockbrokers.

In a note issued on Friday, analyst Colin Sheridan said Glenveagh has only a quarter of its target, 184 units, left to sell this year. It plans on selling 725 homes throughout 2019.

The company has also pushed ahead with plans for housing on the Hollystown Golf Course in north Co Dublin.

It has applied for a change-of-use from An Bord Pleanala to build 133 two-storey houses on the site. As well as the houses the group has sought permission for 120 apartments.

One of the company's latest transactions was the sale of 118 housing units to Ireland's largest private landlord, Real Estate Investment Trust (I-Res) last month

The deal includes two, three and four-bed homes at Taylor Hill in Balbriggan and Semple Woods in Donabate - both in North County Dublin.

The deal is believed to be worth €38m.

Belfast Telegraph

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