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.

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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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Macquarie Capital

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