IL&P writes down property values by 55%
Irish Life & Permanent (IL&P) has written down the value of its investment property portfolio by approximately 55 per cent from its peak.
Irish Life & Permanent (IL&P) has written down the value of its investment property portfolio by approximately 55 per cent from its peak.
The banking and insurance group, owner of Permanent TSB, incurred writedowns of just under €2 billion over the past two years on buildings held by unit-linked funds on behalf of IL&P clients.
The writedowns span commercial offices, industrial property, and retail real estate such as shopping centres.
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
The year in review
The best writing and and the biggest stories of 2019 from the Business Post
Newsround: What Thursday’s papers say
Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals
More cycle routes, expansion of Luas to Bray and new bus network proposed
Greater Dublin Area draft Transport Strategy published
