Building firm in €155m loss as development loses value

Accumulated losses at a subsidiary controlled by Galway building firm JJ Rhatigan increased in 2010 to €155.2 million, figures show.

Building firm in €155m loss as development loses value
Tue, 31 Jan, 2012 - 00:00
Gordon Deegan

This follows Rhatigan Commercial Developments Ltd recording a loss of €50.2m, relating mainly to a further writedown of €49.3m in the developer’s Heuston South Quarter development in Dublin.

The mixed-use development was lauded by former taoiseach Brian Cowen as “one of the most significant developments in Dublin in the last decade”.

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CourtsPlace: GalwayPlace: Heuston South QuarterPlace: DublinPlace: QuarterPlace: USPlace: IrelandPerson: JJ RhatiganPerson: Brian CowenPerson: CowenPerson: Padraic RhatiganOrganisation: Rhatigan Commercial Developments LtdOrganisation: Lehmann BrothersOrganisation: Companies OfficeOrganisation: Bank of Scotland
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