Pre-opening | Property Bridges finances the construction of four homes in Kingswood (Dublin 24) with a €1,987,219 development facility

10/09/2026 – ⏱ 5 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 a new real estate crowdlending transaction in the south-west of the Dublin metropolitan area. Suncroft House Developments Limited has requested funding for the construction of four homes on a site at Ballymount Road, Kingswood, Dublin 24. The transaction is structured as a €1,987,219 development facility secured by a first fixed charge over the property, which holds full planning permission for the four units. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The transaction sets an interest rate of 7.5% per annum; this reference return is subject to investment risk and is not guaranteed. The term of the tranche now being brought forward is 13 months. The borrower contributes the site unencumbered, valued at €750,000, plus a further €150,000 towards the construction budget, amounting to an equity contribution of €900,000 across land and cash. The platform has scheduled an 18-month construction programme and a 3-month sales period. The published offering does not specify the opening date and time of the call, the minimum investment per user or an internal credit rating, points the investor should verify in the contractual documentation and in the key investment information sheet before committing funds.

Asset Description, Technical Progress and Commercial Traction

The site held a large older bungalow. The developer obtained permission to demolish it, along with the other existing structures, and to build three four-bedroom houses and one five-bedroom detached house, together with all associated works. The planning permission is held under reference SD24A/0029. A geotechnical survey was carried out in October 2025 with trial pits, dynamic probing and periodic sampling, concluding that ground conditions are suitable for standard strip foundations.

The works are running to schedule. The ICF external walls and roof structures are complete across all four houses; roof coverings are finished on House 4 and in progress on Houses 1 to 3. Site preparation, boundary treatments, roads, paths, paving and landscaping are complete, pipework and ducting continue, and electrical works have begun. On completion, three of the four houses will be sold; the fourth will be occupied by its buyer, who will take a mortgage over the property.

The site is in Kingswood, a suburb within the Tallaght metropolitan area. St Kilian's primary and secondary schools are some 300-400 metres away and Kingswood Community College about 750 metres. The 56A bus route has its nearest stop about 350 metres away, beside St Kilian's church, with a night service (49N) some 550 metres away, and the Kingswood Luas stop on the red line is about a 10-minute walk, serving Tallaght, Saggart and the city centre. The M50 motorway and the N7 road are around 5-7 minutes away by car, as is Tallaght town centre, with The Square shopping centre and the hospital. Kingswood village itself has a community centre, a pharmacy, shops and a pub, with Ballymount Park and sports facilities nearby.

Financial Structure, Coverage Ratios and Real Collateral

The site value is set at €750,000, the gross development value (GDV) at €3,290,000 and the net development value at €2,898,678. Against those figures, the platform places the loan-to-value ratio at 68.6%. The security is a first fixed charge over the site, held freehold and with full planning permission. Property Bridges has carried out anti-money-laundering and know-your-customer checks on the borrower, with nothing to report.

The independent valuation commissioned by the platform introduces a caveat relevant to investors. On the commercial value of the land, the valuer considers it unlikely that the permission granted will command a significant market premium, taking the view that the proposed homes are considerably larger than others in the area without a quantifiable increase in value; the land is therefore valued on a revised scheme, applying a budget of approximately €750,000, equivalent to around €187,500 per plot. As to market value on the special assumption that the site is developed in accordance with reference SD24A/0029, the report notes that there is little comparable new-build data of the size in question in the immediate area, so it has drawn on older properties locally and, where possible, on more recent construction further afield. The comparables table sets out six references ranging from €3,252 to €5,008 per square meter; the first three are close to the subject property but smaller and inferior in condition and energy rating, the fourth — Garter's Green — is the closest match to the four-bedroom houses although it is a terraced property, and the last, at Saggart Lakes, is broadly comparable to the five-bedroom house, if slightly larger.

The borrower is Suncroft House Developments and the contractor on site is Leinster Facility Services. The platform notes that it had not worked with this contractor before, although the company brings experience in new-build residential and commercial work, with several homes delivered in Tallaght and Clondalkin and a project record the developer documents back to 2011, with past clients including IKEA, AIB and The Temple Bar. On risks, the documentation describes development risk as reduced given a level site with a topographic survey completed and experienced teams; financial risk as partly mitigated by the borrower's equity contribution; and sales risk as shaped by the scarcity of comparable new-build stock in the area, a circumstance the valuation report links to expected demand for the completed units.

In compliance with the European crowdfunding framework, it is recalled that non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their investment offer without justification or penalty. This is a crowdfunding product and not a deposit or a guaranteed savings product; the platform itself recommends not allocating more than 10% of net worth to crowdfunding projects. Real estate investments carry risks of illiquidity and of total or partial loss of principal; this vehicle is not supervised by the CNMV or the Bank of Spain, and lacks the coverage of the deposit guarantee scheme provided for in Directive 2014/49/EU and of the investor compensation scheme provided for in Directive 97/9/EC. Investors may not recover the capital contributed. The analysis was written by David Jelly and reviewed by James Twomey.

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