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06/03/2012
Asset Value Of Property Firm Down £100m
One of Northern Ireland’s largest property firms has had to drop the value of its assets by a staggering £100m as a direct result of the property crash.
William Ewart Properties has saw its net asset value decline from £211m in 2009 to £105m in 2010, this is according to the company’s 2010 accounts.
The firm also made an operating loss of £4.5m and said that economic conditions "continue to be challenging."
The company's assets include shop units on Donegall Place in Belfast city centre, shopping centres in England, Scotland and Wales and a large portfolio in Germany.
(LB/GK)
William Ewart Properties has saw its net asset value decline from £211m in 2009 to £105m in 2010, this is according to the company’s 2010 accounts.
The firm also made an operating loss of £4.5m and said that economic conditions "continue to be challenging."
The company's assets include shop units on Donegall Place in Belfast city centre, shopping centres in England, Scotland and Wales and a large portfolio in Germany.
(LB/GK)
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