Housebuilder Cairn Homes has announced the sale of 229 residential units in Lucan in West Dublin for just under €80 million.

The development - comprising apartments, duplexes and houses - forms part of Cairn's biggest residential schemes of over 1,000 homes.

The houses are being sold for a cash consideration of €78.75 million to a special purpose company managed by Carysfort Capital and funded by the privately held alternative investment fund, Angelo Gordon.

Carysfort Capital and Angelo Gordon also acquired Cairn's development at Six Hanover Quay in Dublin last year.

The Lucan development is situated around 1 kilometre from the train station at Adamstown, which is about 16 kilometres from Dublin City Centre.