Now, as Group Chief Financial Controller with Castlethorn, the privately owned Irish residential developer and homebuilder, Leonard is at the forefront of efforts to tackle Ireland’s housing crisis and close the gap in the availability of high-quality homes and new-build communities.

A privately-owned developer in business for over 35 years, Castlethorn delivered 1,150 homes in 2025, and is currently active on large-scale residential sites with the capacity to deliver over 4,000 further homes.

These comprise over 1,500 houses in counties Dublin, Louth and Meath and some 2,500 apartments in Dublin-based developments, such as Rathborne Wharf, Woodbrook, Rathborne Crossings and Parkgate Street.

Several routes to market Involved mainly in large-scale residential developments in the Greater Dublin Area, Castlethorn’s core business is the delivery of homes for first-time buyers.

“We deliver private houses, primarily for first-time buyers, alongside apartments supported by the State-backed Croí Cónaithe (Cities) Scheme, and apartment developments through forward funding deals and partnerships with the State, Land Development Agency and Approved Housing Bodies”, Leonard explains.

Having several routes to market is important for Castlethorn, he notes, because Ireland’s housing needs can’t be met through one single tenure or delivery model.

“Our plan is to grow our annual delivery to over 2,000 homes by 2028, supported by a strong land pipeline, increased organisational capability and a clear focus on the parts of the market where we believe we can deliver at scale”, Leonard says.

And scale is critical at a time when Ireland’s much-publicised housing shortage continues to dominate headlines.

The Central Bank of Ireland estimates that the country will need some 52,000 new homes per year up to 2050 to satisfy the housing needs of a growing population per the most recent projections published by the Central Statistics Office.

Despite this, Ireland’s capacity to generate new housing at the scale required is challenging given the operational and systemic risks facing developers, Leonard says.

Operational and systemic risks

“The main risks for developers are uncertainty and delay”, Leonard explains, “planning timelines, utility connections and infrastructure can all materially change the programme and economics of a development.

“Construction cost inflation and supply chain capacity are also important, as is access to long-term capital for delivery”. Another critical consideration for developers is density. “Density must remain deliverable”, Leonard explains, “simply requiring more density doesn’t necessarily result in more homes if the additional cost makes the scheme unviable or increases its reliance on State support”.

Ultimately, improved coordination and clearer end-to-end accountability is needed across planning, utilities, infrastructure and approvals, to spur residential development.

“Greater certainty would reduce cost, improve access to capital and help the industry deliver more homes”, Leonard says.

Government response: policy progress

In response to the housing crisis, the Government’s ‘Housing for All’ plan, published in 2021, followed by 2025’s ‘Delivering Homes, Building Communities’, set out targets for the construction of 300,000 homes by the end of 2030.

The €1 billion Housing Infrastructure Investment Fund was established in early 2026 to support direct investment in housing site infrastructure, managed by the Housing Activation Office, a dedicated unit within the Department of Housing, Local Government and Heritage, established to speed up home-building by removing infrastructure delays. While welcome, these initiatives will only yield positive results if properly executed, Leonard warns. “The Government has made real progress in recognising and addressing some of the main barriers to housing delivery and the establishment of the Housing Activation Office is a positive step”, he says.

“Measures to bring more land into the planning system are also welcome, as are interventions aimed at improving apartment viability.

“There is now much greater recognition that housing delivery requires close collaboration between the public and private sectors, but the next challenge is consistent execution”.

Leonard believes the focus in the short-term should be on “unlocking” sites that are already zoned, planned or under construction by resolving delays related to infrastructure, utilities and approvals.

“In the medium term, Ireland needs a much larger pipeline of zoned and genuinely serviced land, properly resourced planning departments and stable funding routes for apartment delivery”, he says.

“In the longer term, housing, transport, water, electricity and population planning need to operate as one joined-up system. Policy is increasingly moving in the right direction; the real test now is delivery, coordination and clear accountability”.

Placemaking for successful development This focus on coordinated delivery reflects the “placemaking” ethos that sits at the heart of Castlethorn’s operating model.

“Placemaking means looking beyond the individual home and considering the overall environment in which people will live”, Leonard explains.

“A successful development needs good homes, but it also needs transport, infrastructure, green space, amenities and community facilities. These elements need to be considered from the beginning, rather than added afterwards.

“Our Woodbrook development in Shankill is a good example. It is centred on the new DART station and brings together private homes, cost-rental and affordable housing alongside parks, play areas, cycle links, community space and a neighbourhood centre.

“This is what placemaking means to us: creating a place that works as a community, not simply delivering a collection of individual units”.

For Leonard, applying his skills as a Chartered Accountant in a sector so critical to the fabric of Irish life is a major motivator. “Housing is tangible, and it matters to people and communities”, he explains.

“From a finance perspective, my work is rewarding because every development brings together land, planning, design, construction, infrastructure, funding and sales. Decisions made today can affect delivery and returns several years down the line.

“Finance therefore needs to be close to the business. You need to understand the sites, the construction programme, the funding requirements and the risks – not simply report the numbers afterwards. I enjoy this commercial and operational involvement”.

Career path: from practice to property

Leonard studied business at University of Limerick, followed by a master’s in accounting at Dublin City University.

After qualifying as a Chartered Accountant in 2013, he remained with Deloitte for nine years, working in the firm’s audit practice, mainly with consumer and technology businesses.

He joined Glenveagh Properties plc in 2018 as Group Finance Manager and was subsequently promoted to Group Financial Controller followed by Head of Finance.

Leonard moved to Castlethorn in January 2025 as Group Chief Financial Officer. In his role today as Group Chief Financial Controller, he is responsible for the financial strategy and stewardship of the business.

This encompasses funding, capital allocation, liquidity, forecasting, reporting, governance and risk. “Day-to-day, I’m involved in land investment, development appraisals, funding structures and major transactions”, he says.

“A large part of my role is balancing the immediate needs of the business with the capital, capability and pipeline we will require several years from now. What I enjoy most is being close to the decisions that shape the business and I am fortunate to work with very good teams and very capable people”.

Evolving priorities and career progression

Although still ambitious, how Leonard defines professional success has evolved over the years.

“My career has taken me from audit to a listed housebuilder and now to a Group Chief Financial Controller role with a privately owned residential developer. My qualification as a Chartered Accountant gave me the foundation and flexibility to make those moves”, he says.

“At the outset, I thought I would become a partner in an accountancy firm, but this changed as I gained experience. Your goals evolve, and your career is shaped by the opportunities you get, the people you work with and the parts of the job you enjoy most.

“Early on, I was focused on progression, technical competence and taking on more responsibility. Today, I place much greater value on my time and where I choose to spend it. I have a family now, and balancing my time between work and family is very important to me.

Active listening and adopting a patient approach to communication has helped Leonard hone an effective leadership style as his career has progressed.

“Talking less is important because, when you do speak, it carries more weight. People may not remember every point you make, but they will remember how you made them feel and what it was like to work with you.

“In general, I would say people have become more important to me. I value the qualities that don’t require a degree or qualification – attitude, work ethic, enthusiasm, preparation, energy, resilience, communication and making an effort.

“I’ve learned that helping someone grow, giving them an opportunity and seeing them succeed is what leadership is really about”.

Trust and ethics: the future of accounting

In the years ahead, Leonard anticipates a rise in the use of technology – in particular, artificial intelligence – to automate processing, reconciliation and standard reporting in accounting.

“This should allow Chartered Accountants to spend more time on judgement, interpretation, challenge, communication and decision-making”, he says.

As a result, accountants will need to develop stronger capabilities in data, technology, sustainability and cybersecurity.

“Trust and ethics will always remain central”, Leonard says, “the accountants who combine technical credibility with commercial judgement and the ability to work well with people will continue to add the greatest value”.

*Interview by Elaine O’Regan