Dairygold Co-Operative Society Limited has confirmed that it has completed the sale of its Creamfields development property to Cairn Homes plc. for €25.6 million.

Creamfields was formerly the Cork Milk Producers (CMP) Dairies, and it based on the Kinsale Road in Cork City.

In 2022, Dairygold received full planning permission for the development of 606 residential units, and other commercial units.

Dairygold partnered with Cairn Homes plc, to deliver the residential element of the development, and both parties engaged with Respond, the not for profit approved housing body (AHB).

According to Dairygold, the development was supported by Cork City Council's housing directorate, and will "ensure a mixed residential offering of cost rental, affordable and Part V social accommodation".

Dairygold chief executive, Michael Harte said: “Dairygold’s strategy for its non-core property assets is to maximise their value and to divest of them at the appropriate time, led by Dairygold’s head of property, Niall Sheehan to facilitate further investment in Dairygold’s business.

"Dairygold has been successful in this strategy and over the last number of years, including receiving planning approval for approximately 1,200 much needed homes,” Harte added.

The chairperson of Dairygold, Pat Clancy outlined the reasons that the company began the project.

He said: "The Creamfields site was the home of CMP Dairies which was the dairy brand of choice for the people of Cork before it closed in the early 2000s.

"The Creamfields name reflects that heritage and recognises the contribution it made to commercial and social life in the city, and the livelihood it provided to hundreds of dairy farming families.

"For these reasons, Dairygold was keen to ensure that the project would be appropriately delivered, and we are confident that with the involvement of Cairn Homes Plc, Respond AHB and Cork City Council, this will be achieved, and Cairn Homes plc will be commencing the development in Q4 (quarter four) 2025,” Clancy explained.