Unique crowdfunding investment platform to finance 30 new homes in County Limerick
Construction on the houses is scheduled to be completed in mid 2027
Construction is underway at a new housing development in Co Limerick after it received finance from Ireland’s only dedicated crowdfunding investment platform for homebuilding.
Cois Currán is a development of 30 three-bedroomed family homes in Pallaskenry being built by the Roche Group, a Newcastle West based construction company.
Finance was raised through Property Bridges, which operates an specialist investment platform backed by a community of more 2,600 individual investors.
A spokesperson for the organisation said: “The development will help provide much-needed housing along the N69 corridor west of Limerick city, where hundreds of new homes are needed.”
Construction on the houses is scheduled to be completed in mid 2027, with homes priced from €400,000 to €425,000.
Financier for the Roche Group, Derick Walshe said: “Cois Currán will bring much-needed new homes to Pallaskenry, and we’re delighted with the progress so far.
“Funding through Property Bridges meant we could get moving quickly, without the delays that often come with seeking traditional bank finance – and that means these homes will get built sooner for local families.”
The Property Bridges spokesperson commented: “Property Bridges connects ordinary retail investors from all over Ireland directly with homebuilders. Investors get the opportunity to back much-needed housing developments, while smaller developers get a faster, more flexible alternative to traditional bank lending.
“The company has provided funding for more than 1,000 new homes throughout the country.”
The statement continued: “Individuals can invest from €500 to €500,000 in asset-backed residential property developments through Property Bridges. The targeted annual rate of return for investors in Cois Currán is 7.5%.
“Construction of the homes has also supported employment and created economic activity among sub-contractors and suppliers in the area.”
David Jelly, CEO of Property Bridges, said: “It’s always great to see a new development moving forward. Small and medium-sized developers build two-thirds of all new homes in Ireland and that’s exactly who our platform backs.
“We connect individual investors looking for a better return than a deposit account with the developers who are actually building the homes Ireland needs – in Pallaskenry and all around Ireland.”