Pre-opening | Property Bridges finances the construction of 30 homes in Dingle (Ireland) through a €4,999,401 development facility at 7.50% with a first-rank mortgage

27/08/2026 – ⏱ 3 min

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

The crowdfunding platform Property Bridges is preparing to launch a real estate investment opportunity in Dingle (County Kerry, Ireland). The operation consists of a residential development facility, secured by a first-rank mortgage, granted to the borrower Zinbar Grove Developments Ltd, intended to finance the construction of 30 homes in Cnoc an Cairn, Relief Road. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The call sets a development facility of €4,999,401 — including fees and monitoring costs — and an interest rate of 7.50% per annum; this return reference is subject to investment risk and is not guaranteed. The term has been set at 22 months (with completion required at 21 months). The borrower contributes a total capital of approximately €2.22 million — an unencumbered plot valued at €1.2 million, €159,320 in cash upfront and 15% on each drawdown — and the operation is secured by a first legal charge over the freehold land, complemented by the personal guarantee of Billy Moloney.

Asset Description, Construction Progress and Borrower

The asset is a 0.412-hectare triangular residential plot on Dingle's relief road, held freehold (Folio KY78680F) and zoned Town Centre (GZT). The project comprises 30 homes — 15 one-bedroom ground-floor apartments and 15 two-bedroom duplexes — with a gross internal floor area of approximately 2,843 square metres, 32 standard parking spaces and one accessible space, all with a BER A3 energy rating and NZEB standard. Planning is fully secured: Kerry County Council granted permission on 30 March 2023 (Ref. 22/1128) and An Bord Pleanála resolved the appeal in favour of the project on 2 January 2025 (Ref. ABP 316415-23), with no further appeal available. There is also a connection agreement with Irish Water (Ref. CDS2500200701), with a €175,000 fee. According to the documentation, the works are in the site preparation and substructure phase, with overall progress of approximately 10%.

The borrower, Zinbar Grove Developments Ltd, is a special-purpose vehicle of the Moloney Group, a residential developer based in Tralee (Kerry) with a personal guarantee from Billy Moloney. According to the fact sheet, the group recently completed a project in Roscrea (Tipperary) with Property Bridges and developed the adjacent Cairn Close development, which sold out during construction at prices of between €535,000 and €595,000 per three-bedroom terraced home. An independent property monitoring body (OCFPM Limited) acts as the project's supervisor, and the platform states that it has completed anti-money-laundering (AML) and know-your-customer (KYC) checks.

Financial Structure, Coverage Ratios and Collateral

The main collateral of the operation is a first legal charge over the land, free of encumbrances, valued at €1,200,000. According to the independent valuation by Keane Mahony Smith (RICS), dated 9 March 2026, the gross development value (GDV) of the 30 homes amounts to €12,571,400 and the net development value (NDV), after deducting VAT, to €11,076,123.35. Against the €4,999,401 facility, the operation presents a maximum Loan to Net Development Value (LTNDV) of 45.1% and a maximum Loan to Cost (LTC) of 69.5%. The business plan projects gross sales of €10,200,000, a conservative figure against the GDV of the independent valuation. The repayment strategy relies on the sale of the homes, with an agreed milestone of 10 units sold with deposits before month 19; in accordance with the Part V obligation, three units will be transferred to Kerry County Council.

In compliance with European crowdfunding regulations, it is recalled that non-sophisticated investors have a pre-contractual reflection period of four calendar days during which they may withdraw their investment offer without justification or penalty. This is a crowdfunding product and not a deposit or a guaranteed savings product. Real estate investments carry risks of illiquidity and total or partial loss of principal; this project is not supervised by the CNMV or the Bank of Spain, and is not covered by the deposit guarantee scheme (Directive 2014/49/EU) or the investor compensation scheme (Directive 97/9/EC).

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