Bank of Ireland has partnered with Hallmark Developments to support the delivery of high-quality housing in Mallow, Co Cork, as part of a €9.5m transaction.
Hallmark, a well-established homebuilder prominent in the south-west of Ireland, boasts a strong portfolio of high-quality products delivered across a range of sectors including residential, commercial, educational and healthcare.
Bank of Ireland Corporate Banking has established a new relationship with Hallmark to focus on the delivery of high-quality housing in Rose Hill, Annabella, Mallow, Co Cork.
“Together, we are making a meaningful impact by helping to create homes and opportunities for a brighter future”
The transaction has enabled the Bank to support the delivery of quality homes in an area of high demand. The scheme is located walking distance from Mallow Train Station, offering direct access to Cork City.
Hallmark will deliver almost 200 homes and a creche over three phases. The scheme will consist of a mix of two-, three- and four-bedroom houses as well as duplex apartments.
Shared commitment
“Hallmark Developments are delighted to partner with Bank of Ireland in the delivery of much needed new family homes,” said Kieran Flynn, Managing Director of Hallmark Developments
“This partnership reflects our shared commitment to creating vibrant and sustainable communities. Together, we are making a meaningful impact by helping to create homes and opportunities for a brighter future.”
In early 2024, Bank of Ireland increased the funding available for housing development by 40% to €2.5bn by 2026, including €1bn for social and affordable projects.
From an ESG (Environmental, Social and Governance) perspective, supporting the supply of new homes on high quality sustainable schemes is a strategic priority for the Group and this latest transaction has provided Bank of Ireland with an opportunity to deliver on this priority.
Units will be a minimum BER A2 rating.
In addition, 20 units will be apportioned towards the provision of Part V Social Units.
Nikki Canavan, Head of Housing & Development Finance in Bank of Ireland’s Corporate & Commercial division, said: “I would like to congratulate Hallmark Developments on their high quality residential scheme in Mallow, to thank them for the opportunity to work together and look forward to supporting them with their future plans and developments.
“Supporting the house building sector to deliver growth in housing across all counties and communities in Ireland, is a key priority for Bank of Ireland.”
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