Cullaun Capital has supported a diverse range of development projects
by geography and sector
Development Finance for a 90 Bed Nursing Home in Carnew, Co. Wicklow
At Cullaun Capital we are committed to the Healthcare Sector in Ireland. We are pleased to fund the development of a modern 90 bed nursing home adjacent to Carnew Primary Care Centre on Gorey Road in Carnew.
Acquisition and Development Finance of 68 Houses in Drogheda, Co. Louth
Cullaun Capital has provided funding for the site acquisition and development of first phase 68-unit of a 205-unit residential private housing scheme in Drogheda, Co. Louth.
The site is located in the north of the town, about 15 minutes’ walk from the centre of Drogheda and within easy reach of regular services to and from Dublin City Centre and the M1.
Development Finance for 30 Residential Units in Co. Kildare
Cullaun Capital has provided a funding facility for a 30-unit residential scheme in Carbury, Co. Kildare.
Acquisition and Development Finance for a Social Housing Scheme of 44 units in Mullingar, Co. Westmeath
Cullaun Capital is pleased to fund the site acquisition and development of a social housing project for Dalcar Developments Limited, with an agreed take out by Tuath Housing Association, one of the largest Approved Housing Bodies in Ireland.
The scheme consists of 44 homes within walking distance to Mullingar town centre and contains a mix of housing types catering for varying needs such as single person and family requirements, older persons and people with disabilities.
Development Finance for 102-Unit Development in Avourwen, Co. Meath
Cullaun Capital has funded the current phase of 100+ new home styles including detached and semi-detached houses, townhouses, duplex homes and apartments in Avourwen by Manley Construction.
This new complex will also include a retail and leisure facility as well as a creche and is located close to Drogheda town centre with direct access to the M1. We have also funded the group’s portfolio of zoned land on which 200+ houses will be built in the future.
Development Finance for 58 Residential Units and a Creche in Allenwood, Co. Kildare
Cullaun Capital has provided a funding facility to Awood New Homes Ltd. The first phase will deliver 58 residential units and a creche in Allenwood Middle, Allenwood, Co. Kildare.
This development is located close to the centre of Allenwood Village with access via the R403 Regional Road.
Acquisition and Development Finance for 25 Houses in Watergrasshill, Co. Cork
Cullaun Capital has funded the initial phase of 25 houses in Watergrasshill, Co. Cork. The Orchard Development is located in a commuter town 20 minutes north of the city centre and it consists of 3, 4 and 5 bed stunningly designed family sized homes in the thriving village of Watergrasshill. The development is nearing completion and is already proving popular with many of the units sold.
Noel Ross, Head of Portfolio Management commented “We are delighted to be providing funding to this project which will be the first of many deals for us in the Cork area. There is an urgent need for all types of accommodation at affordable price levels as Cork expands as part of Ireland 2040 planning. We are excited about opportunities in the area and expect development finance across various asset classes in Cork and Munster generally will be a significant component of our business in the years ahead.”
Acquisition and Development Finance for 8 large Terraced Houses in Foxrock Village
Cullaun Capital is funding the build out of 8 large terraced houses at the corner of Torquay and Westminster Roads in Foxrock with completion set for the second half of 2020. These units will be finished to a very high standard including elevators.
Noel Ross, Head of Portfolio Management commented “We are backing a developer who knows the area very well and has a track record in delivering a high spec standard of finish, which is essential on houses that seek to achieve a premium price. The contractor is renowned internationally and is undertaking one of their first projects in Ireland.”
Development Finance for a 221 Bed Nursing Home in Beaumont, Dublin 9
Cullaun Capital has partnered with Bartra Capital to provide funding to support the construction of their third nursing home in Artane, Beaumont.
Beaumont Lodge Nursing will have 221 beds and will be, on completion, the largest nursing home in Ireland. It is in very close proximity to the Beaumont Hospital and will accommodate patients across the spectrum of residential healthcare needs, including Alzheimer’s/dementia care as well as respite, rehabilitation, convalescence and day care needs.
Stephen Bell, CEO noted “There are thousands of nursing home beds required over the coming years. We were delighted to work with Bartra Capital and their specialist Nursing Home team who have identified the need to address this shortage. We believe this also extends to other parts of Ireland, particularly Cork. As population demographics continue to change, the need for high quality nursing homes is becoming increasingly apparent. Developers with the specialist knowledge required to build these facilities need access to finance and as a multi-asset class lender we were proud to be able to provide it”.
Development Finance for a 118 Bed Nursing Home in Northwood, Dublin 9
Cullaun Capital provided funding to Bartra Capital to support the construction of their state of the art nursing home in Northwood, Santry. Northwood Nursing Home is a 118-bed facility on a 0.43-hectare site and provides care services to include residential, dementia (including Alzheimer’s), respite, convalescence and day care.
Stephen Bell, CEO commented “It was great to work with a borrower with such a clear view on what needs to be done and which had a really well thought through business plan for the next few years”.
Acquisition Finance for a proposed mixed-use scheme of 200+ Residential Units and Retail in Dublin 12
Cullaun Capital funded the acquisition of several parcels of brownfield land in Dublin 12. Planning permission for over 200 residential units and a retail space is being sought on the resulting site. The development will provide accommodation within 15 minutes of the Centre of Dublin via the LUAS. It will also be less than 2km from the new National Children’s Hospital currently under construction at St James Hospital.
Noel Ross, Head of Portfolio Management said “It’s great to play a part in a project like this. It will revitalize a site with buildings that have been empty for over a decade. The resulting development will provide much needed homes for the area. With only a 15 minute journey by LUAS into the centre of Dublin and the new Children’s Hospital opening nearby it will provide much needed accommodation and retail facilities.”
Acquisition and Refurbishment Finance for a 19 Unit Apartment Block in Montpellier Hill, Dublin 7
Cullaun Capital provided funding to enable the purchase and refurbishment of a 19 unit apartment building in Montpelier Hill, Dublin. The promoters completed the building to the current requirements of the Government Department of Housing, successfully arranged the letting of same and the loan was thereafter redeemed in full.
Financing of Now Refurbished Social Housing Scheme of 14 units in Co. Waterford
This scheme was funded in conjunction with the above and below projects and was successfully redeemed.
Financing of Now Refurbished Social Housing Scheme of 18 units in Kildare Town
Land Acquisition Finance for 8.9 acres in Co. Galway
Cullaun Capital funded the acquisition of a 8.9 acre site zoned residential site in Galway to allow the borrower bring forward a planning application. The land is suitable for the construction of 150 much needed homes. The loan was successfully redeemed in full at the conclusion of the agreed term.
Stephen Bell, CEO said “We were delighted to work with an experienced borrower in Galway and to have the opportunity to close a deal which was subject to a 28 day notice. The team work between Cullaun Capital, the borrower and our respective third party advisers was first class.”
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We would be delighted to discuss your development proposals.
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