Pragma undertakes due diligence and provides strategic advice in respect to the agreement between Fraser Homes Limited and Gardrum Holdings Ltd, which will see the delivery of up to 1000 homes over the next 10 years.
The houses are likely range between £120,000 and £400,000 at current market values.
Commenting on the matter 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.
(The deal having been brokered by) 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 (parent company to Gardrum) said that “for number of years now, there has been an under-supply ofnew houses being builtin the Northern Ireland marketplace alongside increasing demand for first time buyer and family homes. We are currently active in theresidential constructionmarket 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.”
Following the agreement Pragma has been retained to deliver the homes through the planning process across a number of Council areas and are working in conjunction with Fraser and Gardrum as well as their consultant teams to deliver the homes.