€7m losses at ‘loo with a view’ developer’s company

Losses continued to mount last year at a construction firm that splurged €400,000 on a derelict “loo with a view” at the height of the building boom.

In 2008, owner of Galvin Construction Ltd, John Galvin bought the site containing the toilet block on the promenade in Lahinch, Co Clare, “with unrivalled and unparalleled sea views” after his nearest bidder declined to go beyond the €400,000.

Mr Galvin subsequently secured planning for two shops and three apartments on the site in 2011, but has not proceeded with the plan.