Investment Brief | Harrow House, Killiney – Dublin: Property Bridges Opens Funding Today for "Passive Plus" Ultra-Luxury Development

11/02/2026 – ⏱ 3 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The Property Bridges platform is set to go live today, Wednesday, February 11th, at 3:00 PM (GMT), with one of the most technically sophisticated operations in its Irish residential portfolio. The 255. Harrow House (Tranche 4) project seeks to complete the financing for a development of four exclusive homes in Killiney, one of South County Dublin’s most prestigious addresses. With a tranche goal of €282,821 (out of a total facility of €2,107,976) and a 7.5% annual return, the operation stands out for its "Passive Plus" energy standard, exceeding current A1 regulations.

Investment Summary

• Project Name: 253. Harrow House, Killiney - Tranche 6.
• Target Return: 7.5% per annum.
• Loan Term: 12 months.
• Location: Harrow House, Church Road, Killiney, Co. Dublin.
• LTNDV (Loan to Net Development Value): 63%.
• Total Facility Amount: €2,107,976.

The Asset: Architectural Innovation in Killiney The development is situated on the grounds of Harrow House, a substantial period property on Church Road. The project consists of constructing 4 high-end homes: a block of three 2-bedroom houses and a fourth 4-bedroom detached unit.

Passive Plus Standard: The Future of Housing The competitive edge of this project lies in its extreme energy efficiency. The homes are designed and supervised by a renowned architect and industry expert in Net Zero Energy Buildings (NZEB).

Passive Plus Certification: A standard superior to traditional Passive House or A1 levels, ensuring minimal environmental impact and virtually non-existent operating costs for the end-user.

Site Status: The foundations have already been completed, eliminating significant technical risk regarding ground conditions. Additionally, an Irish Water connection agreement is already in place.

Financial Structure and Real Guarantees The €2.1 million loan covers 100% of the construction costs and includes a €150,000 equity release. The land was appraised (Red Book Valuation, May 2025) at €985,000.

Valuation and Safety Margin According to the independent valuation report, the Net Development Value (NDV) is estimated at €3.33 million, while the Gross Development Value (GDV) reaches €3.8 million.

LTNDV Ratio: 63%.

Equity Cushion: There is a margin of approximately €1.2 million to absorb potential construction cost increases or adjustments in sales prices.

Security: First-rank mortgage over the property, along with a share charge and debenture over the borrowing entity.

The Borrower: Sandycove NZeb Developments Limited This is a repeat borrower for Property Bridges. The previous relationship concluded successfully following the completion of a similar luxury passive housing project in South Dublin, which was repaid in full. The management team brings over 30 years of experience to the sector.

Exit Strategy: Refinance or Sale The developer's preferred plan is to retain the 4 houses upon completion for the rental market, securing a long-term investment loan to refinance Property Bridges.

Refinance Viability: It is estimated that the exit loan required would be approximately €2.3 million (including rolled-up interest), representing a 69% LTV, a level considered highly achievable for assets of this quality and rental potential.

Contingency (Sale): Should refinancing prove unavailable, the sale of just the three smaller units, or the detached house plus one smaller unit, would be sufficient to settle the total debt with the platform.

Realty Investor: Scenario Analysis in South Dublin Harrow House represents a premium opportunity due to its location on Church Road, an area of Killiney known for large period estates and excellent connectivity to Dublin City Centre.

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