Pre-opening | Property Bridges finances a €1,500,000 bridge loan secured on a three-asset portfolio in Cork (Ireland) at 7.50% with first-ranking charges

06/08/2026 – ⏱ 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 Cork, Ireland. The operation consists of a bridge loan with first-ranking charges over three commercial and mixed-use assets, granted to the borrower Purtol Limited. The funds are intended to refinance an existing Property Bridges facility and to finance the completion of the refurbishment works on two of the properties. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The call sets a total financing amount of €1,500,000 and an interest rate of 7.50%, with quarterly interest payments to lenders; this return is subject to investment risk and is not guaranteed. The term of the operation has been set at 24 months. According to the documentation, the amount is distributed as €870,000 to refinance the existing facility, €200,000 for the reimbursement of works already carried out at Tuckey Street and €400,000 for the refurbishment of Shandon Street.

Asset Description, Construction Progress and Borrower Profile

The portfolio comprises three assets in County Cork. The first, at 1 Tuckey Street (Cork City central business district), comprises a ground-floor retail unit and a three-bedroom apartment; the refurbishment is substantially complete, with a current value of €250,000 and a completed value of €500,000, and expected rental income of €44,400 per annum. The second, at 60-61 Shandon Street, consists of a licensed basement premises, four two-bedroom apartments and one one-bedroom apartment; works have recently commenced, with a current value of €800,000 and a completed value of €1,870,000, and estimated rental income of €147,600 per annum. The third, O'Sullivan's Lake House in Inchigeelagh (County Cork), is an end-of-terrace property comprising a 14-bedroom hotel (with a further 3 under construction), a bar with licence and a three-bedroom residential unit.

According to the documentation, the Lake House currently benefits from a lease that provides cashflow during the refurbishment of the Cork assets, although that lease expires at the end of February 2027 and its renewal cannot be taken for granted; the valuer has ascribed a value of €850,000 to the property without the lease and €1,345,000 with it. The borrower, Purtol Limited, has, according to the fact sheet, prior experience in the acquisition and repositioning of commercial properties in Cork and has maintained a prior financing relationship with Property Bridges, having met its repayment obligations.

Financial Structure, Coverage Ratios and Collateral

The operation is secured by first-ranking charges over the three assets, whose current aggregate market value amounts to approximately €2,395,000 and whose expected completed value stands between €3,220,000 and €3,715,000. According to the documentation, this results in a Day 1 LTV of 41.8% and an LTGDV of 46.6%, with an LTV on completed value in the region of 40.4%. The primary repayment strategy is refinance once the refurbishment works are complete — with Tuckey Street fully let and Shandon Street refurbished and let — while secondary routes include the disposal of individual assets, the sale of the Cork portfolio or partial repayment from Lake House cashflows.

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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