Cork-based developer Bridgewater Homes has submitted planning applications for a 206-unit residential scheme at Sallybrook, Glanmire, adding to a rapidly expanding pipeline that includes a 300-home proposal in Castletreasure and a newly cleared 176-unit project near Maryborough Hill, according to filings reported by the Irish Examiner.
The Bottom Line
- Pipeline Expansion: Bridgewater Homes lodged plans for 206 homes at Sallybrook, Glanmire, following a 300-unit proposal at Castletreasure last month.
- Revenue Growth: Accounts filed with the Companies Registration Office show turnover rose 17% to €40.8m in the year ending September 2025, up from €34.9m.
- Strategic Landbanking: The builder is advancing multiple large-scale projects across Cork, including a €400m multi-scheme footprint at Ardrostig on the Waterfall Road.
Mapping Bridgewater’s Regional Development Pipeline
The latest application for 206 residential units at Sallybrook places Bridgewater Homes firmly at the center of Cork’s suburban residential construction push. According to details reported by the Irish Examiner, this Glanmire filing follows closely behind an application submitted in July 2025 for 300 homes at Castletreasure, situated on a 24-acre (9.7ha) landbank south of Cairn Homes’ (Euronext Dublin: C5H) €150m Bayly development.
Here is the math on the Castletreasure transaction: if planning permission is granted, the sale of the site—currently owned by the Cashman family—will finalize at an expected valuation between €9m and €10m. However, the land transaction remains strictly conditional upon planning approval. A local planning decision regarding the Castletreasure scheme is scheduled for September.
Bridgewater director David Walsh noted that the Castletreasure site is likely the final parcel available for residential development in that immediate valley corridor. “There is no more land zoned for housing, beyond existing developments,” Mr. Walsh stated to the Irish Examiner. Surrounding builders, including Murnane & O’Shea, have maintained active operations across the area for the past decade.
Financial Health and Balance Sheet Metrics
The builder’s expansion strategy coincides with strengthening corporate accounts. Financial filings submitted to the Companies Registration Office indicate that Bridgewater’s turnover for the 12 months ending September 30, 2025, increased 17% year-over-year, climbing from €34.9m to €40.8m. The 33-employee firm recorded gross profits of €3.34m for the period.
This capital base supports a diverse portfolio spanning multiple regional sites. Planners recently cleared Bridgewater to construct a 176-home scheme on a 4.39ha (10.8a) greenfield site near Hazel Hill and Applewood housing estates, positioned adjacent to the ongoing M28 Cork to Ringaskiddy motorway construction project. This approved layout incorporates 104 traditional two-, three-, and four-bedroom houses alongside 72 apartments distributed across three blocks.
| Metric / Project | Details / Valuation | Source / Status |
|---|---|---|
| Annual Turnover (FY2025) | €40.8m (up 17% YoY from €34.9m) | Companies Registration Office filings |
| Gross Profit (FY2025) | €3.34m | Companies Registration Office filings |
| Sallybrook, Glanmire | 206 residential units | Planning application submitted |
| Castletreasure, Douglas | 300 units; land value €9m–€10m | Planning decision due September |
| Ardrostig, Waterfall Road | Trio of schemes valued at €400m (approx. 700 units) | Land acquired for >€17m |
Macroeconomic Context and Competing Infrastructure
The scale of Bridgewater’s project pipeline highlights the ongoing demand pressures within Ireland’s residential property sector. Major institutional builders continue to navigate high construction input costs and evolving regulatory requirements while attempting to bridge persistent housing supply deficits.
But the balance sheet tells a different story regarding execution risk. Bridgewater is concurrently managing large-scale operations in Carrigaline, where a 362-unit development on Mount Road is underway, as well as a €400m trio of projects on lands at Ardrostig on the Waterfall Road. Those Ardrostig parcels were acquired by the builder for upwards of €17m and are slated to deliver approximately 700 housing units collectively.
Execution timelines across these multi-phase developments are advancing rapidly. At Waterfall Heights, 275 units are already completed, while construction work on 164 units at Waterfall Avenue is progressing. Furthermore, operations on a third major phase, Waterfall Manor comprising 246 homes, are scheduled to commence shortly. “We’ll be breaking ground in September,” Mr. Walsh confirmed to the Irish Examiner.
Complementing these large suburban developments, the builder is also finishing smaller infill projects. Construction on a niche 19-home scheme known as The Orchard on Rochestown Road—positioned directly behind the Dunnes Stores car park in Douglas village—is on track for completion before the close of the year.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
