Pre-opening | Property Bridges returns to Omeath with a new tranche and five of the six homes already sold

14/10/2026 – ⏱ 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 tranche of the €1,176,053 development facility for six homes at Oberon Villa, in Omeath (County Louth, Ireland). It is the same facility that the platform has been splitting into tranches since February.

The term of this tranche is eight months and the annual interest rate is 8%, half a point above the 7.5% at which the previous tranches were offered between February and July; that return is subject to investment risk and is not guaranteed. The listing does not publish an opening date, minimum investment or rating. The tranches we have covered with an amount — €145,267 in March, €116,000 in April and €101,954 in July — add up to €363,221, 31% of the facility.

Asset description, construction progress and sales traction

These are six new homes, two groups of semi-detached houses and two detached houses, on what used to be the garden of Oberon Villa. The house is a protected structure, but it has been legally separated from the site, so no part of the plot is protected. The land is in an elevated position with views of Carlingford Lough, 10-15 minutes from Dundalk and Newry. The planned works last 15 months, plus another three to close the sales.

The first five houses are more than 90% complete and their sales have been agreed; the sixth is built and roofed, with interior works under way. The same document, however, retains the original text of the analysis: it says that the borrower plans to bring the homes to market in the first quarter of 2026 and that it preferred to wait until early that year to launch them with the DNG agency. That part has gone three quarters without being updated.

Financial structure, coverage ratios and security

The borrower contributes the land, valued at €240,000, and the first €300,000 of works, so the first drawdown of the loan arrives with the foundations and site preparation already done. On those figures the total cost is €1,716,053 and the loan-to-cost is 68.5%; the listing publishes 70.6%, which implies a cost base of around €1,666,000, €50,000 below the one it describes itself. The loan-to-net-value, on the other hand, does add up: €1,176,053 over €1,771,900 is 66.4%.

The independent valuer valued the completed project at 2.31 million, but the platform adopted 2.01 because of the Part V social housing reservation and because one house is under a pre-sale contract: a 13% reduction in the investor's favour. The file also states that this 2.01 million gives 66% cover on gross value, when that 66% comes from net value; on gross value the ratio is 58.5%. The security consists of a first fixed charge over the plot and the six houses, plus a €100,000 cost-overrun guarantee from the owner of the borrower, Meeko Construction, for which this is its first multi-home development as builder-developer.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their offer without penalty. This is crowdfunding, not a deposit or a guaranteed savings product: it carries a risk of illiquidity and of total or partial loss of principal, it is not supervised by the CNMV or the Bank of Spain and it has no cover under Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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