Bank of Ireland backs Lydon in delivering a 176-unit social and affordable housing scheme in Skerries, Co. Dublin.
Bank of Ireland has extended debt facilities to Lydon, following recent announcements to fund 184-units across projects in Naas & Summerhill, to fund a 176-unit social and affordable housing scheme in Skerries, Co. Dublin, under a Development Agreement with the Land Development Agency.
Founded in 1978, Lydon has built over 5,000 homes and is one of Ireland’s largest independent homebuilders.
“The project reflects our ongoing commitment to building high-quality, sustainable homes that strengthen communities and provide lasting value”
Bank of Ireland has committed to supporting this project, which is designed to meet growing demand for quality housing in the region. On completion the scheme will deliver social, affordable and cost rental units.
Each unit in the Skerries development will be constructed to a minimum BER A3 rating, reflecting both Lydon’s and Bank of Ireland’s commitment to environmentally responsible, low-impact housing.
High quality ESG schemes
The transaction is aligned with the Bank’s strategic focus on supporting high-quality ESG schemes and contributing to the national supply of social and affordable housing.
“We’re proud to partner with Bank of Ireland and the Land Development Agency to deliver this much-needed housing scheme in Skerries,” a spokesperson for Lydon said. “The project reflects our ongoing commitment to building high-quality, sustainable homes that strengthen communities and provide lasting value. With over four decades of experience and a strong delivery record, we remain focused on helping to meet Ireland’s housing needs through responsible and efficient development.”
Brian Gaffney, Head of Residential and Development Finance at Bank of Ireland said the deal “allowed the bank to play its part in supporting the delivery of much-needed quality social and affordable housing whilst also continuing to support a strong sponsor in Lydon.”
Bank of Ireland is currently supporting Lydon in their development of 114 new homes in Naas, Co. Kildare, and 70 Age Friendly/ Independent Living units at Talbot Retirement Village in Summerhill, Co. Meath.
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.
-
Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
-
For support in challenging times, click here
-
Listen to the ThinkBusiness Podcast for business insights and inspiration. All episodes are here. You can also listen to the Podcast on:
-
Spotify
-
SoundCloud
-
Apple
