British Land to put Cherrywood lands on market

British Land and Dunloe Ewart said today in a joint statement that they are to offer the lands at Cherrywood, Loughlinstown, Co Dublin to the market.

This follows the rejection by Dunloe Ewart's shareholders of a plan to purchase British Land's 50 per cent interest in Cherrywood Properties Ltd for €63.85 million.

British Land is exercising its rights under the terms of the joint venture agreement to offer the lands at Cherrywood owned by the joint venture for sale to the market.

The companies said, in the meantime, they will continue jointly to enhance the continuing development of the 412-acre site and to improve its value.

PA