Pre-opening | Property Bridges finances the construction of 30 homes in Pallaskenry, County Limerick (Ireland) through a development facility of up to €3.51 million at 7.5%

01/09/2026 – ⏱ 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 Pallaskenry, County Limerick (Ireland). The operation consists of a development loan with a first-charge guarantee granted to the borrowing company IPD Construction Limited, intended to finance the construction of a 30-home residential development at Cois Curran, delivered in two phases. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The operation is structured as a revolving development facility with a fund of €3,510,839 and an interest rate of 7.5% per annum, with a 19-month term (minimum term of 6 months); this return reference is subject to investment risk and is not guaranteed. Property Bridges will first finance the construction of the 14 units of phase 1 and will keep the debt capped at a maximum of €3.51 million at all times; as sales of phase 1 begin and debt is repaid, the borrower will be able to draw funds for the 16 units of phase 2, provided the debt remains below that cap. This structure allows the loan-to-value (LTV) and loan-to-cost (LTC) ratios to be kept at conservative levels.

Asset Description, Construction Progress and Borrower

The asset is a plot of approximately 3.06 hectares (7.56 acres) located at Cois Curran, Pallaskenry, with planning permission for 30 homes —14 in phase 1 and 16 in phase 2— and additional capacity for up to 18 more homes in future developments. The homes will hold an A energy rating. According to the progress update, the overall development is around 71% complete and the site works around 39%: units 13 and 14 have their interior walls plastered, units 4 to 9 are progressing with kitchens and interior finishes, and units 1 to 3 are at the decoration stage. Pallaskenry is located around 16 kilometres west of Limerick city, next to the N69 national road, near the Shannon estuary, and the Limerick Development Plan 2022-2028 provides for the residential growth of the village.

The borrower, IPD Construction Limited, is part of the Roche Group, a company with more than 30 years of experience in residential, commercial and industrial construction, according to the information provided. The developer, a local one, has successfully completed two recent projects and contributes significant own equity —the unencumbered land and the first €120,000 of the financing—. The exit strategy relies on the sale of the homes on the open market, with an estimated marketing period of 6 to 8 weeks per unit. The platform indicates that it has completed anti-money laundering (AML) and know-your-customer (KYC) checks with no adverse findings.

Financial Structure, Coverage Ratios and Collateral

The main collateral of the operation is a first fixed charge over the property, which holds planning permission for the 30 homes, reinforced with a 10% cost-overrun guarantee. According to the valuation by independent surveyors appointed by the platform, the value of the land amounts to €1,380,000, the gross development value (GDV) of the 30 homes stands at €12,520,000 and the net development value (NDV) of the same at €11,030,837, with the NDV of the 14 phase-1 homes at €5,074,890. On this basis, phase 1 shows a loan-to-net-development-value (LTNDV) ratio of 69.2%. The use of funds and construction progress are supervised by the appointed surveyor.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a crowdfunding product and not a deposit or a guaranteed savings product, and that real estate credit operations carry specific risks, such as illiquidity, the risk of not obtaining the expected return, the possibility of dilution or the total or partial loss of principal in the event of the debtor's insolvency. This crowdfunding project is not authorised or supervised by the CNMV or the Bank of Spain, and the information provided has not been reviewed by these institutions. Likewise, the capital invested is not covered by the deposit guarantee scheme (Directive 2014/49/EU) or the investor compensation scheme (Directive 97/9/EC).

Realty Investor

Our calendar brings together crowdfunding opportunities from across Europe in one place, so you can plan and follow each issue.

Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.