Hobbs’ property investment company records pre-tax loss of €11,039

THE property investment company established by consumer advocate Eddie Hobbs moved into the red last year, after recording a pre-tax loss of €11,039.

The Cork-based Brendan Investment Pan European Property plc was established in 2007 with plans to raise equity investment up to €250 million.

The investment vehicle allowed a minimum investment of €5,000 and 10,000 people downloaded the company’s prospectus and brochure.