Pre-opening | PropertyBridges finances the advanced phase of the "Omeath" residential project in Ireland: Debt at 7.5% with a first-rank mortgage and works nearing completion

03/06/2026 – ⏱ 5 min

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

The Irish crowdfunding platform PropertyBridges announces the launch of a new and immediate international real estate investment opportunity within the residential market of the Republic of Ireland. The project consists of granting a financing line under the debt format with first-rank real security for the construction of a residential development of 6 new-build homes. The current campaign activates fundraising for Tranche 6, offering the investor community the opportunity to participate in a project with strongly mitigated physical execution risk and a near-term divestment horizon due to the advanced construction state of the asset.

The call opens immediately through the platform with the goal of consolidating a specific fundraising target of €118,726 for this tranche, integrated within an overall Development Facility authorized for a gross amount of €1,176,053. This opportunity offers members of the investor community a nominal annual interest rate of 7.5%. The maturity term set for this specific tranche is 12 months, with the definitive maturity date established as June 2027. The vehicle is presented with a highly balanced financial structure and leverage ratios that provide a solid safety cushion for lenders from the very first moment.

Asset Description, Location and Current State of Works

The asset under development consists of a plot with a granted building license located at Oberon House (Oberon Villa), in the town of Omeath, within County Louth (Co. Louth), on the east coast of Ireland. The plot enjoys a privileged and slightly elevated location within the town center itself, giving it clear panoramic views over Carlingford Lough bay. Omeath stands out as a scenic setting of great residential and tourist appeal next to the border with Northern Ireland; it is a short distance from the popular tourist town of Carlingford and just 10 to 15 minutes by car from two major urban and industrial centers, Dundalk and Newry, guaranteeing easy access to all essential services, shops and local schools.

The construction project envisages the execution of a residential complex composed of a total of 6 single-family homes: specifically, 2 pairs of terraced homes (4 units in semi-detached format) and 2 detached single-family homes. Regarding the administrative situation of the land, a relevant technical clarification should be made: the original license was granted over land that formed part of the perimeter of Oberon Villa, a structure considered protected heritage; however, said development land has been legally and definitively segregated, so no part of the current residential development is subject to heritage conservation restrictions.

In terms of physical execution, the project presents a very mature state of progress. The first four houses of the development are in the phase of nearing completion. In these units, the first-fix electrical and plumbing works have already been fully completed, and firm orders for the kitchen furniture of the four properties have been placed. Thanks to this advanced construction state, the first four homes have been officially launched on the open market for marketing through the estate agency firm DNG. The marketing agency's reports confirm solid initial demand traction, recording a significant volume of formal viewings already scheduled.

Financial Structure, Independent Appraisal and Coverage Ratios

The economic fundamentals of the transaction reflect a strictly controlled risk profile through a strong capital injection by the developer. The operator contributes as equity the project's land, which has a net market value of €240,000, to which it adds additional liquid capital of €300,000 dedicated exclusively to covering the first phases of the physical construction costs. In this way, PropertyBridges' crowdfunding is directly allocated to cover the remaining construction budget and the associated technical fees for the total amount of €1.17 million.

To determine the asset-solvency metrics, the platform appointed an external, independent appraisal firm to assess the current value of the land and the projection of the finished properties. Although the valuation of the completed development amounts to €2.31 million based on local transactions, PropertyBridges has applied a very strict accounting-prudence criterion, setting the Gross Development Value (GDV) at a conservative figure of €2,000,000 (with a Net Development Value or NDV of €1,771,900). This downward adjustment is made preventively to absorb the impact of the affordable-housing regulations (Part V) applicable to the land and due to the fact that one of the single-family units is already subject to a previously signed pre-sale agreement.

Comparing the granted credit line against these adjusted appraisal values, the transaction's financial coverage metrics consolidate at very safe levels for the platform's investors:

The overall construction program was originally estimated at a 15-month term, reserving an additional margin of 3 months for the definitive closing of the sale deeds. All project cost execution is audited monthly through the reports of an independent Quantity Surveyor acting as technical monitor (Project Monitor). The first report issued by said independent professional revalidates the full viability of the developer's budget, ratifying that the works can be completed without material deviations from the declared costs.

Developer Solvency and Guarantee Protection Scheme

The integral development and physical execution of the works is handled by Meeko Construction Limited, a construction and development company wholly owned and managed by the professional Ryan Meehan. The developer has extensive experience of 20 years within the construction industry, having carried out his professional activity both in Ireland and Australia. The company has operated with its own consolidated corporate structure in Irish territory since 2017, with a direct workforce of more than 20 full-time employees. While the firm has an extensive track record in executing single-family residential contracts and large commercial works, the current project represents its first multi-residential development carried out under the dual condition of builder and developer, a strategy aimed at integrating real estate development as the core line of its business.

To guarantee the asset protection of the platform's investors, who have an accessible minimum contribution for this tranche, the loan contract incorporates a first-class risk mitigation and cross-guarantee scheme:

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