Property Bridges Raises €106,407 for the 14 Homes in Kilmallock, 2.9% of the Facility Granted

08/10/2026 – ⏱ 3 min

Fifteen days to gather the amount, at €5 per minute: the slowest pace of the series, with no pre-sales and the interest rate still unpublished

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

Property Bridges has closed in fifteen days the new tranche of the facility granted to Kilmallock Manor Property Developments Limited to build 14 homes at Bellview, Glenfield, Kilmallock (County Limerick). It gathered €106,407 at a pace of €5 per minute, the slowest of all the raises we track.

The closing provides a figure the opening fact sheet did not publish: the size of this tranche. And it is worth placing against the full facility of €3,723,391: what was raised equals 2.9%, so €3.62 million remains to be funded. What is still not published is the interest rate — the fourth fact sheet from this platform in our coverage to omit it. Investors must look for it in the contractual documentation.

This is the third Irish raise by this platform we have covered in a few days, and all three share the same profile: small absolute amounts against the approved facilities and no formalised sales. In Dingle 4.5% of the target was gathered; in Pallaskenry, 5.7% of the limit; here, 2.9%. These are operations that advance through successive drawdowns and whose funding pace depends on each offering finding investors.

On the project, the technical side is reasonably resolved. The site, 2.85 hectares in a single folio, has permission for 28 homes valid to January 2029, and this Phase I comprises 1,612.72 sqm across four three-bedroom and ten four-bedroom houses. Works stand at around 43% overall progress and 38% on site infrastructure, with completion expected in July 2027. DGN Curragh Developments is building it under an RIAI contract whose clause 36 was amended to a fixed price, so the contractor absorbs materials and labour inflation: a risk allocation in the project's favour that deserves highlighting.

What is not resolved is the commercial side and part of the administrative one. There are no pre-sales — the homes will be marketed in phases as construction advances — and several pre-commencement planning conditions remain outstanding, rated medium difficulty by the monitor and required to be formally satisfied before drawdown. The borrower is a vehicle company incorporated in December 2025, and the collateral guarantees from the contractor and the design team still have to be perfected.

The main security is a first fixed charge over the land, plus the assignment of insurances and contracts. The valuer puts the development land at €710,000 and the 28 homes together at €10,540,000; the independent monitor estimates construction costs of €3.225 million and development costs of €3.61 million, with a contingency reserve of close to 5%.

The two inconsistencies we flagged also remain. The Phase I loan-to-value ratio appears as 70.5% in the operation's table and as 63% in the summary; 70.5% is the figure that adds up when comparing the facility with the net value of €5,280,000. And that net value assigns €370,000 to the four-bedroom houses and €395,000 to the three-bedroom ones, exactly the reverse of the valuation, which puts the four-bedroom at €395,000.

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.

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.