Property firm’s revenues fall 67%

ONE of the country’s best known property firms, Airspace Investments last year wrote down the value of its properties and investments by €19 million, leaving it €9m in the red at the end of its financial year.

The company and its subsidiaries were led for many years by well-known developer and Cork native, Ken Rohan, before he stepped down last December when his 35-year-old son, Jamie, was appointed managing director of the business.

Ken Rohan, who turned 65 last year, remains a director and majority shareholder in the group.