The Rohan family, famed for their property development ventures, paid out a dividend of €10 million from their enterprise in the past year, as highlighted in the recent account filings. The Rohan group’s holding firm, Airspace Investments and Subsidiaries, saw a drop in pretax profits last year, from €29 million in 2022 to €5.8 million. The company’s directors, James Rohan and Eugene McCague, attributed the decline partially to a €1.7 million decrease in the value of their investment properties.
The dividend, which was distributed amongst shareholders – majorly the Rohan family, including Ken Rohan, the primary shareholder and a director of the company – was roughly 25 per cent less than the €13.5 million approved by Airspace’s directors the previous year. By the end of the fiscal year in late November, the company reported €4.5 million in post-tax profits, down from €28 million in 2022, and held property assets worth €156 million. The same accounts also revealed that net assets were approaching €180 million, with company liabilities amounting to €10.2 million, a significant portion of which belonged to other businesses within the group.
On the 23rd of March, Airspace cleared a €15 million shareholder loan and an interest of €169,000. Moreover, an investment property revaluation took their value from €77.2 million to €75.2 million, including a €1.7 million cut in property values and a €290,000 foreign exchange charge. Despite these results, Mr Rohan and Mr McCague described the year as “satisfactory”, with financial performance meeting expectations.
The Rohan group is renowned for numerous commercial and industrial developments, such as the iconic Grand Canal Plaza in Dublin’s heart. Their asset portfolio also comprises Dublin Airport Logistics Park, South West Business Park in Citywest, and North City Business Park in Finglas, Dublin. With extensive land across North and South Dublin and the city centre, the group has plans to construct 500 properties for both sale and rent. The firm is also constantly looking for further opportunities for investment and development in the Greater Dublin Area.
The Rohan group operates offices in a number of global locations including Dublin, London, Panama and the British Virgin Islands.