Bank of Ireland to provide €10.5 million in finance for new 122-home development in Clonmel

17 January 2025 – Bank of Ireland has committed to provide €10.5 million in finance to support the building of 122 new homes in Clonmel by Torca Homes.

Torca’s Coleville Woods scheme will see the delivery of 76 family homes (2, 3 & 4-beds) and 46 apartments. Construction commenced in December with homes anticipated to be ready for a formal sales launch in February through Clonmel-based agents PF Quirke & Co.

Bank of Ireland has partnered with Torca Homes since 2022, most recently providing development finance for 51 new family homes in Castleconnell, Co. Limerick.

Phelim O’Connor, Director, Torca Homes, said: “Torca Homes is delighted to partner with Bank of Ireland once again, and with their support we look forward to delivering 122 high-quality, A-rated new homes in Clonmel over the coming years.”

John Feeney, Bank of Ireland’s CEO of Corporate and Commercial Banking, said: “I am pleased to build on our partnership with Torca Homes as they deliver much needed homes in Clonmel. We’re proud to support Ireland’s house builders, playing our part in the nation’s housing future.”

Last year Bank of Ireland increased the funding available for housing development by 40% to €2.5 billion by 2026, including €1 billion for social and affordable projects.