Blackrock International writes down value of Irish assets to €94m

PROPERTY group Blackrock International Land wrote down the value ofassets this year, but said the rate of decline in property valuations has slowed significantly.

The company’s Irish portfolio dropped in value from €101.2 million on January 1 to €94.5m by the end of June, due to a €4.4m value adjustment and disposals of €2.9m.

In Britain its portfolio saw disposals of €3.8 million and it increased slightly in value.