Campaign Close | Property Bridges completes the €384,753 raise for the construction of 14 homes (Phase 1) in Kilmallock, Co. Limerick (Ireland)

14/07/2026 – ⏱ 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 has issued the closing report for the fundraising round intended to finance the construction of 14 homes —Phase 1 of a larger residential project of 28 homes— in Bellview, Glenfield, Kilmallock, in County Limerick (Ireland), promoted by the borrower Kilmallock Manor Property Developments Limited. The operation, structured through a loan with a first fixed charge over the property, was intended to finance the works of this first phase. The subscription process has concluded, consolidating an amount raised of €384,753. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The campaign completed its tranche in a period of 1 minute. The analysis of the flow of contributions during that interval records an average contribution ratio of €384,753 per minute. The platform had indicated that the offering was oversubscribed, so investments made through Auto Invest were allocated on a pro-rata basis according to total demand.

Financial Terms of the Operation

The development facility of the project amounts to €3,723,391, with a term of 16 months (14 months of construction program plus the sales period); this return is subject to investment risk and is not guaranteed. The collateral of the operation is a first fixed charge over the property (Folio LK76694F, 2.85 hectares of freehold), complemented by the assignment of insurance and of the benefits of the project's relevant contracts. In compliance with the European regulatory framework, non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their commitment at no cost and without justification.

Asset Description, Construction Progress and Borrower

The asset is a plot of approximately 2.85 hectares registered as freehold (Folio LK76694F) in Bellview, Glenfield, Kilmallock, with full planning permission (reference 23/26, valid until 28 January 2029) for 28 homes. This Phase 1 comprises four three-bedroom terraced houses and ten four-bedroom semi-detached houses, with a total gross internal floor area of 1,612.72 m². Works began in early May and are expected to be completed in July 2027; according to the latest progress update, the overall progress of the project is approximately 26%, and the independent monitor has confirmed that the project remains within the planned time and budget. Kilmallock is a town in the south of County Limerick, connected by the R512 and R515 regional roads. The homes will be sold on the open market in phases as construction progresses. The borrower is Kilmallock Manor Property Developments Limited, a special-purpose vehicle incorporated in December 2025, and the main contractor is DGN Curragh Developments Limited.

Capital Structure, Coverage Ratios and Collateral

The independent valuation prepared by ERA Downey McCarthy (William Lyons MRICS MSCSI, RICS registered valuer), dated 12 February 2026 and in accordance with the RICS Red Book, sets the market value of the development land at €710,000 excluding VAT and the Gross Development Value (GDV) of the complete 28-unit project at €10,540,000. Against these figures, the operation shows a Phase 1 LTGDV of 70.5%. The total construction costs, reviewed by the independent monitor OCFPM, stand at around €3,225,000 (about €2,134/m²), within the expected range for a similar project in Limerick, with a contingency reserve raised by the monitor to approximately 5%. The platform states that it has carried out anti-money-laundering and know-your-customer (AML/KYC) checks with nothing to report.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a participatory financing product and not a deposit or a guaranteed savings product, and that real estate investments carry specific risks, such as illiquidity, the risk of not obtaining the expected return, or the partial or total loss of the invested capital. The investment is not covered by the deposit guarantee schemes established under Directive 2014/49/EU nor by the investor compensation schemes established under Directive 97/9/EC, and this project is not supervised by the CNMV or the Bank of Spain. It is recommended not to invest more than 10% of net worth in crowdfunding projects.

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