Pre-opening | Property Bridges finances the construction of 10 homes in Prosperous, Co. Kildare (Ireland) with a €2,167,696 facility

08/07/2026 – ⏱ 3 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform Property Bridges is preparing a real estate investment opportunity in Prosperous, County Kildare (Ireland). The operation consists of granting a loan to the borrower Bower Building & Construction Ltd, intended to finance the construction costs of a development of 10 homes to be sold on the open market. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

Financial Terms of the Operation

The development facility amounts to €2,167,696, fees included, with an interest rate of 7.5% per annum and a term of 7 months for this tranche. The construction costs of the 10 homes are estimated at €2,106,333, and the platform states that it will finance 100% of those costs. The borrower previously acquired the land for €415,000 with its own equity and subsequently obtained planning permission for the 10 units. The collateral of the operation is a first fixed charge over the property, complemented by a cost-overrun guarantee of €200,000, equivalent to 10%.

Asset Description, Construction Progress and Commercial Traction

The asset is a 0.34-hectare site located at The Bowery, Prosperous, with a current planning permission (reference 23/005) for 6 houses and 4 apartments, all of them with an A energy rating. The scheme comprises terraced homes of three and four bedrooms, a two-bedroom home, two two-bedroom apartments and a one-bedroom apartment. Prosperous is a village of about 2,500 inhabitants located some 40 km west of Dublin city center, with motorway access (M4) and with the Kilcock and Sallins train stations about 15 minutes away by car, in addition to three Bus Éireann routes to and from Dublin.

Works began at the end of last year and, according to the latest progress update provided by the platform, all the homes show a degree of completion of between 44% and 100%, with roof level reached on four of them. The borrower has completed site works valued at €302,000. The platform notes a delay in the application to the electricity company ESB to divert an existing cable, which has prevented the completion of some accesses for the homes at the front of the development, and expects this to be resolved shortly. On the commercial side, of the 10 homes, 4 are sale agreed, 2 are being processed with the local authority to comply with Part V requirements, 3 are being marketed with viewings under way and 1 remains to be brought to market.

Capital Structure, Coverage Ratios and Collateral

The independent valuers appointed by Property Bridges value the site at €650,000 and set the Gross Development Value (GDV) of the 10 completed homes at €4,105,000, with a Net Development Value (NDV) of €3,616,000. Against these figures, the operation shows a Loan to Cost (LTC) of 78.1% and a Loan to Value (LTV) of 60.8%. The valuation is based on a sale price per square foot of between €352 and €429 depending on the house type, and between €419 and €550 for the apartments; in the absence of new-build comparables in Prosperous, the valuer has used new home sales in Clane as a reference, adjusting for size and proximity to Dublin. The principal behind the borrower is Brian Keogh, managing director of Stonewood Homes Ltd., a general contractor with experience in both residential and commercial development. The platform states that it has carried out anti-money-laundering and know-your-customer (AML/KYC) checks with nothing to report.

In compliance with the European Crowdfunding Regulation (EU) 2020/1503, it is recalled that non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their investment offer at no cost and without justification. It is also warned that this is a participatory financing product —not a deposit or a guaranteed savings product— and that real estate investments carry specific risks, such as illiquidity, the risk of not obtaining the expected return, or the partial or total loss of the invested capital. The investment is not covered by the deposit guarantee schemes established under Directive 2014/49/EU nor by the investor compensation schemes established under Directive 97/9/EC, and this project is not supervised by the CNMV or the Bank of Spain. It is recommended not to invest more than 10% of net worth in crowdfunding projects.

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