Brunsfeld recently arranged a development funding facility for an experienced property investor for a site in North County Dublin with full planning permission for a scheme of semi-detached, three-bedroom houses. With few other comparable new developments in the immediate area, where 85% of the housing stock was built prior to 2000, this build represents an opportunity to develop out one of the few open sites currently zoned residential.
The site purchase was fully funded from equity. Brunsfeld arranged finance for all of the development costs and a partial release against the site acquisition, allowing the borrower to reinvest this into new ventures. We advised the borrower that the certainty from selling the entire development to one of the Tier III Government Approved Housing Bodies would be a compelling, lower risk strategy for the site. These units were then leased to Dublin City Council to provide new stock and a modicum of relief for the overburdened social housing lists.
Work In Progress – Images Of Ongoing Construction
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