Property Bridges Raises €225,278 of the €4,999,401 Sought for the 30 Homes in Dingle

08/10/2026 – ⏱ 3 min

The 8% tranche gathered 4.5% of its target in five days and came in below what the same scheme raised in June paying half a point less

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

Property Bridges has closed in five days the new tranche for the 30 homes at Cnoc an Cairn, in Dingle (County Kerry), with €225,278 raised at a pace of €31 per minute. The figure is best read against the target: the offering sought €4,999,401, so what was raised covers 4.5% and €4.77 million remains unfunded.

One further data point is more revealing still, and it only emerges by cross-checking our own archive. This scheme has been on the platform since May 2026: in June a tranche at 7.5% closed at €248,126, and it was published again in July and in August. This tranche came out at 8% a year — half a point more — and has raised 9% less than June's. Raising the coupon has not improved the response.

It is also worth placing the €225,278 next to one specific commitment in the file: the Irish Water connection charge of €175,000, payable before the first drawdown. That single item absorbs 78% of everything raised in this offering.

The ratios the fact sheet publishes — a maximum LTNDV of 45.1% and a maximum LTC of 69.5% — are calculated on the full €4,999,401 loan, not on what was actually raised. And they still carry the ambiguity we flagged: the operation's table defines net development value at €11,076,123.35, gross value less 13.5% VAT, while the commercial section of the same fact sheet refers to a "borrower's conservative" net value of €8,695,500. Measured against that second figure, the full loan's ratio would be 57.5% rather than 45.1%.

On the project itself, the solid and the pending remain where they were. Planning risk is closed: the Kerry County Council permission of March 2023 was upheld by An Bord Pleanála on 2 January 2025 with no further appeal. The site, 0.412 hectares freehold and zoned town centre, will hold 15 one-bedroom apartments and 15 two-bedroom duplexes, with 2,843 sqm of gross internal area and an A3 energy rating.

Construction, by contrast, is at an early stage: substructure complete and external walls under way, with overall progress around 12% for a 20-month loan. And no sale of the project is recorded. The file's commercial reference is Cairn Close, an adjacent scheme by the same group sold out during construction at between €535,000 and €595,000 per unit, though those were three-bedroom terraced houses: a different product from the apartments and duplexes being built here. The contract includes a sales milestone of ten units sold with deposits before month 19.

The price gap we documented also remains: the developer projects gross sales of €10,200,000 while Keane Mahony Smith's independent valuation puts them at €12,571,400, a difference of €2.37 million concentrated mainly in the duplexes, valued at between €535,800 and €555,000 against the €395,000 of the business plan. Three of the thirty units will go to Part V, Ireland's mandatory social housing reservation, but gross value is calculated with all thirty at market price.

The security is a first legal charge over the land, free of encumbrances, with no additional security or personal guarantees. The borrower contributes some €2.22 million between the land valued at €1,200,000, €159,320 in cash and 15% of each subsequent drawdown, and an external monitor, OCFPM, supervises certification.

Investing in real estate crowdfunding carries the risk of losing part or all of your capital: the money is locked up until maturity, returns are not guaranteed and there is no deposit guarantee fund cover. No security eliminates that risk, and the outcome of the raise does not anticipate how the operation will end. Non-sophisticated investors have four calendar days of reflection to revoke their offer without penalty.

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Your real estate crowdfunding, in one app.

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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.