Balmoral property values dip over €9m

The value of properties held by real estate investment vehicle Balmoral fell by over €9 million to €199.6 million from €208.8 million over the first six months of the year, figures released by the company yesterday show.

Net assets per share on June 30th were €0.0453 compared to €0.0514 on December 31st, 2010.

This was in line with a company statement a month ago.

The fall in the value of its properties meant that its business lost €3.3 million in the first six months of the year, compared with a loss of nearly €8 million during the same period in 2010.

Following a shareholders’ vote last week, Balmoral will delist from the Dublin and London markets on Friday.