Infrastructure

    Delivering Ireland’s first social housing PPP project

    Macquarie Capital, Sisk and Choice reach financial close on Ireland’s €140 million Social Housing Bundle 1.

    Sector Infrastructure
    Sub-sector Property
    Location Ireland

    Opportunity

    As the need for social housing provision grows, awarding agencies are looking to public private partnership (PPP) frameworks.

    Ireland’s Social Housing Bundle 1 encompasses the financing, design, construction and maintenance of six social housing sites in Dublin over a 27 year concession.


    Approach

    Following Macquarie Capital’s previous sponsor role of the Grangegorman tertiary education PPP, we acted as sole financial adviser and sponsor to Comhar Housing, a consortium comprising Macquarie Capital, Sisk, Choice Housing and Oaklee Housing.

    The group was appointed preferred tenderer and reached financial close in March 2019, becoming Ireland’s first social housing PPP project.

    Outcome

    Social House Bundle 1 marks a significant response to the social housing needs of the Irish market, providing the tenants and their families with a basis for sustainable communities into the future.

    534 new homes

    Six social housing development sites in and around Dublin and Leinster

    €140m project

    Assists the Irish government’s €300m commitment to 1,500 social housing homes via PPP

    Ireland’s first social housing PPP project

    opening up a new avenue for delivering housing requirements

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