Irish Examiner: Rebuilding Cork

Earlier this week the Irish Examiner published an interesting article on the scale of new homes delivery in suburban Cork.  In a piece entitled ‘Familiar faces behind Frankfield’s first housing development in 20 years’ property editor Tommy Barker remarked on the “seasoned chestnuts” behind the impressive, €10 million housing development ‘The Oaks’ in Douglas (full details here: https://www.irishexaminer.com/breakingnews/property/familiar-faces-behind-frankfields-first-housing-development-in-20-years-984255.html).

Significantly, The Oaks is one of the first housing developments in the Frankfield area for more than two decades. This 24-home Bellevue scheme will comprise of spacious three and four-bedroom houses. The journalist’s use of the word “seasoned” is indeed right as this collaborative development team has decades of industry excellence under their collective belt. This includes the design and build team made up of architects Deady Gahan, engineer David Butler of O’Shea Leader and QS Glenn McCarthy of MAC Construction Consultants, supported by CLFS Wealth Management.

The team here at Castlehaven Finance are delighted to act as key financing partner to Brian Madden and all at Calder Initiatives and Rockforest Homes as they deliver much-needed, quality family homes to the local market. And the ambition does not stop at The Oaks, the development team has plans to develop further residential sites in Ballinlough, Ballincollig and Carrigtwohill.

While we are delighted to see housing development in Cork thrive, we are not at all surprised. Outside of Dublin, Cork has the most active development land market with €133 million worth of development land transacted there in 2019. This was a massive 26 percent year-on-year increase and Castlehaven Finance are proud to have been financing partners on a number of these deals.

As recently announced, Castlehaven Finance secured a €2 billion credit line to back Ireland-based home builders and ambitious developers with a vision, it is expected that the Cork market will be an important recipient of this finance and development support. Our Cork operations are led by John Paco Fitzgerald, who can be contacted through www.CastlehavenFinance.com.