Bank of Ireland backs Ashcroft Developments with €21m financing for housing schemes in Louth and Kildare.
Bank of Ireland has approved €21m in financing to support Ashcroft Developments in delivering new housing schemes in Ardee, Co. Louth and Johnstownbridge, Co. Kildare.
The funding will facilitate the construction of 75 homes in Ardee and 68 homes in Johnstownbridge.
“These new developments by Ashcroft in Louth and Kildare will deliver much-needed, A-rated homes in areas where demand for housing is strong”
The Ardee project, known as Bridgegate, has planning permission for 347 homes, a creche and a community building. Construction of the second phase is scheduled to begin in 2026.
Housing projects pick up pace
The Spire View development in Johnstownbridge will comprise 68 homes and a commercial unit. Both schemes are already under construction and will include a mix of two-, three- and four-bedroom homes, with Spire View also featuring one-bedroom maisonettes.
“On behalf of Ashcroft, we would like to thank Bank of Ireland for their continued support of the expansion of our business,” explained Alan Brunton, managing director of Ashcroft Developments.
“Since 2015, the bank’s focused relationship management and financial backing of our housing projects have been fundamental to Ashcroft’s success. As we continue to grow, Ashcroft look forward to working with Bank of Ireland in the years to come.”
The financing is structured as a revolving debt facility, allowing Ashcroft to draw down funds as required, repay them as homes are sold and reuse the facility for future phases. Bank of Ireland has previously supported Ashcroft in delivering more than 200 homes across seven schemes.
As of June, the bank was financing the construction of 25,000 homes across 235 sites in 23 counties, as part of its target to enable the development of 30,000 homes nationwide.
This will involve record state investment, including €9bn in housing capital funding for 2026 and €275bn in infrastructure over 10 years under the National Development Plan.
“These new developments by Ashcroft in Louth and Kildare will deliver much-needed, A-rated homes in areas where demand for housing is strong,” Brian Gaffney, head of Residential and Development Finance at Bank of Ireland.
“Our revolving debt facilities allow developers to recycle funding, ensuring housing projects progress at pace. Supporting projects like these in regional towns and commuter counties is a practical way Bank of Ireland can play its part in addressing Ireland’s housing challenges.”
Bank of Ireland recently revised its home building target upwards to 30,000 homes through debt and equity finance.
In addition to the new housing target, Bank of Ireland is also convening a group of key housing market stakeholders – drawn from homebuilders, equity investors, representative bodies, and professional services – to consider ways in which the private sector can further increase housing supply responsibly.
The latest development comes as the Government of Ireland revealed a new housing strategy titled ‘Delivering Homes, Building Communities: An Action Plan on Housing Supply and Targeting Homelessness (2025–2030).’ Here are the key points:
The overall goal of the Government strategy is to deliver 300,000 new homes by 2030, building on the 137,000 homes completed since 2021.
Top image: Donogh McCabe and Niamh King from Bank of Ireland’s housing finance unit pictured with Rory MacEntee, Development Director at Ashcroft Developments, at the company’s ‘Bridgegate’ scheme in Ardee, Co. Louth.
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