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February 25, 2021

Update from the originator:

All 9 units are being purchased by Leitrim Council. At the start of lockdown, the site had closed as the Council did not allow work to continue on-site. In the last 2 weeks, the Council has decided that work can now recommence on site, as the completed houses will be used for social housing. The site was ahead of schedule before lockdown, so the originator expects this loan to be repaid as the agreed timetable. The originator will continue to monitor progress on this site and expect a further funding tranche to be launched in the coming days.

January 11, 2021

Update from the developer:

All 9 units are being purchased by Leitrim Council, however as there is still significant work to be completed on-site before the first units will be ready for handover, the Council has informed the Borrower that they will have to cease work on the site during the lockdown. The building program on-site is actually ahead of schedule, so the developer is happy that the delay caused by lockdown will not impact the loan being repaid as per the agreed timetable.

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