Pre-opening | Property Bridges Opens a New Tranche of the €4,005,654 Facility for 18 Homes for Over-55s in Ratoath (Meath)

17/09/2026 – ⏱ 3 min

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

Property Bridges is preparing a new call within the development facility financing 18 homes at Cornmill, Ratoath (County Meath, Ireland). The borrower is Leafend Ltd, the operation is secured by a first fixed charge over the property, and the planning permission conditions the sale of the homes on buyers aged over 55. It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

The facility amounts to €4,005,654, a figure that includes equity release costs and fees, and covers construction costs estimated at €3,492,867. The first drawdown includes €375,000 paid to the borrower as equity release on the site. The rate is 8% per annum and this tranche has a six-month term; this reference is subject to investment risk and is not guaranteed. No opening date and time, minimum investment or internal rating is stated.

Asset description, construction progress and sales traction

The property is a 1.26-acre site less than 500 metres from the centre of Ratoath, some 25 km from Dublin. All 18 homes will carry an A energy rating. The planning permission is described as being in force, but the documentation does not include its reference number: it appears replaced by a placeholder.

Works are in their final phase: fourteen homes completed and four at 77%. Fourteen units are listed as "sale agreed" or "contract issued" — these are not completed sales — and the platform expects the first closings before Christmas. The principal behind the borrower, Michael Ryan, runs Pivotal Construction Ltd and is developing 41 homes for the same segment in Enfield (Meath) in parallel, of which 29 are sold.

Financial structure, coverage ratios and security

Independent valuers assessed the site at €1,240,000 and the 18 completed homes at €6,980,000; the net development value is €6,150,000. The fact sheet puts the loan-to-cost ratio at 84.6% and the loan to net development value at 65.1%. The breakdown by house type sums to €7,150,000, a figure that does not match the declared gross value: one row assigns €450,000 to a 550-square-foot home, inconsistent with the unit price the same table states.

The security comprises a first charge over the property and a cost-overrun guarantee, which the summary table quantifies at €340,000 while the security section expresses it as 10%. The cost valuer reviewed the budget and construction programme and considered them correct.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period during which they may revoke their offer without justification or penalty. This is a crowdfunding product, not a deposit or a guaranteed savings product; the platform recommends allocating no more than 10% of net worth to crowdfunding projects. It carries risks of illiquidity and of total or partial loss of principal, and it may not be possible to sell the instruments when desired. It 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.

Realty Investor

Your real estate crowdfunding in one app.

Discover new opportunities. Invest through leading platforms. Manage your entire real estate portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get familiar with the platform using simulated money, without committing capital.

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

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.