Tranche 2 - Mooncoin Social Housing Project

Mooncoin

Updates

Progess Update - 14th February 2019

Feb 28, 2019

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Work has progressed on all 6 houses, as per the pictures attached. The internal works are ready to go, but are just waiting for the windows and doors to be installed. The windows and doors are all ordered, and manufactured and expected to be delivered and installed in the coming 1-2 weeks. Other than this all the roof works are complete and boundary works are completed and the properties are ready to go as soon as the windows and doors are installed. This will be followed by the following works:

  • M&E First Fix
  • Slab & Dab - Plaster works
  • Carpentry - internal doors, frames and architraves
  • Surfaces - floor finishes, tiling etc
  • M&E Second Fix
  • Sanitary ware
  • Painting etc

These should all follow on quite quickly once the doors and windows are installed, and as such, we would expect that the units will be completed within 3-4 months of becoming weather tight. This is assuming all orders etc go to plan and there are no major issues with shipping and customs in Ireland and Europe in general.


Site Visit - 9th of May

May 23, 2019

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A site visit was carried out on the 9th May. As of that date, all block work and external plastering was complete. Windows and doors have been fitted in all 6 houses, with internal walls in the process of being finished.

Completion is expected in c. 12 weeks, with the Council having a role in the final fit out as they provide the new tenants with a budget for white goods etc.


Site Visit - 19th of June

Jul 30, 2019

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A site visit was carried out on the 19th of June by our CEO, David Jelly. At that stage, all external work on the block of 4 houses had been completed, with the other 2 houses nearing completion.

We have been advised by the developer that all the ground works around the houses will be completed within the next week. Internally second fix plumbing and electrical work is progressing and kitchens and fireplaces will be fitted shortly. At that stage they will be ready for hand over to the Council. The Council are anxious to take possession as soon as possible. Again we expect builders holidays to delay the process slightly, but we expect completion well within the term of the loan.

The term of this loan is for 12 months from first utilisation, and as such, it must be repaid with interest by the 21/12/2019.


€400,000.00

Raised Of €400,000.00 Goal

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Investment complete
 
Debt Offer. Structure
7.5% Ann. return
10 Months Term

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