O’Flynn ups stake in property group

O’Flynn Construction has increased its stake in listed property company Blackrock International Land.

In a statement to the stock market, Blackrock said that Rosecastle, a subsidiary of O’Flynn Construction, now holds 10.7% of its share. O’Flynn Construction snapped up a 9.2% stake in the company in July.

At the time, a spokesperson for the Cork company said the holding was purely an investment, though yesterday’s rise is bound to stoke speculation that O’Flynn Construction may be preparing to bid for Blackrock.