Hobbs’s firm loses €3.32m

Losses continued to mount last year at the property investment company established by celebrity consumer advocate Eddie Hobbs.

Accounts just filed with the Companies Office show that the Cork-based Brendan Investment Pan European Property plc recorded a €3.32 million pre-tax loss in the 12 months to the end of Jan 31, 2011, following a pre-tax loss of €262,883 in 2010.

The chief factor behind the loss was unplanned refurbishment costs of €2.5m of the company’s office building in the Airport City business park in Dusseldorf.