Upcoming Opening | Property Bridges Opens a New Tranche of the €4,164,780 Development Facility for 13 Social Housing Apartments on Killeen Road (Dublin)

16/09/2026 – ⏱ 4 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

The crowdfunding platform Property Bridges is preparing a new call within the development facility financing the construction of 13 apartments at 6A Killeen Cottages, Killeen Road, in the Ballyfermot area of west Dublin. The borrower is Marcton Killeen Ltd and the operation is secured by a first fixed charge over the property. Once completed, the 13 apartments are to be sold to an Approved Housing Body (AHB) that provides accommodation for people with mental health support needs. It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

The development credit facility amounts to €4,164,780, a figure that includes accrued interest and fees, and covers the full construction cost of the 13 units, estimated at €3,832,447. The operation sets an interest rate of 8% per annum; that return reference is subject to the risk of the investment and is not guaranteed. The term is 16 months, with a minimum term of 6 months. The published fact sheet does not state the date and time the call opens, the minimum investment per user, or an internal credit rating — details the investor should verify in the contractual documentation and in the key investment information sheet before committing funds.

Asset description, construction progress and exit strategy

The property is a 0.2-acre site with planning permission in force under reference ABP 309534-21 for 13 apartments: ten one-bedroom and three two-bedroom units across five floors. All units are to carry an A energy rating. The site sits on Killeen Road, close to the junction with the Grand Canal and beside Nangor Road, between Ballyfermot and Bluebell, inside the M50 belt and with the Park West complex nearby. Road access to Dublin city centre and the national network runs via the M50, connecting to the M7 at the Red Cow interchange at junction 9.

Works are under way. The borrower began construction in early January and, at the time of this call, the ground-floor slab and walls are in place and the perimeter wall has been completed. Over the following four weeks the first-floor slab and walls are due to be finished and the second-floor works begun. The land was acquired by the borrower with its own funds, a circumstance the platform points to as reducing the financial risk of the operation.

As for the exit, the contracts for the sale of the completed homes to the Approved Housing Body have already been agreed and, according to the documentation, are expected to be signed shortly. It should be made clear that at the time of the call these are agreed contracts pending execution, not a completed sale.

Financial structure, coverage ratios and security

Property Bridges engaged independent valuers who assessed the site at €850,000 and the completed homes at €6,205,000, both figures on the basis of the sale to the Approved Housing Body. The fact sheet puts the loan-to-cost ratio (LTC) at 84.1%. The documentation also records a net development value of €5,467,180, although the corresponding line of the summary table refers it to "21 houses", a figure that does not match the 13 apartments of the project.

The security package comprises a first fixed charge over the property and a cost-overrun guarantee equivalent to 10%. The platform's cost valuer has reviewed the borrower's budget and construction programme and confirmed both are in order; the same professional acted as monitor on this developer's previous project.

This will be Property Bridges' second loan with the principal behind the borrower. The previous one financed the construction of five apartments on Prussia Street, in Dublin, also sold to an Approved Housing Body; works began in early 2023 and the loan was repaid in full as scheduled. The director of Marcton Killeen Ltd has more than 20 years of experience in the construction sector. Property Bridges has carried out anti-money-laundering and know-your-customer checks on the borrower, with no issues to report.

On risks, the documentation describes a development risk bounded by the project having no access problems or difficult ground, with planning conditions the surveyor considers standard; a reduced financial risk owing to the acquisition of the land with the borrower's own funds; and a sales risk conditioned on the transaction with the Approved Housing Body. The analysis was written by James Twomey and reviewed by David Jelly.

In compliance with European crowdfunding regulation, it is recalled that non-sophisticated 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 allocating no 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 has neither the deposit guarantee scheme cover provided for in Directive 2014/49/EU nor the investor compensation scheme provided for in Directive 97/9/EC. Investors may not recover the capital contributed.

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