Accumulated profits at a property management company owned by Minister of State Micheal Healy-Rae exceeded €1 million last year, according to newly filed accounts.
Healy-Rae Property Firm Reports Over €1 Million in Profits
Roughty Properties Limited, established in May 2022 by Minister of State Micheal Healy-Rae, has seen significant financial growth. The company’s accumulated profits climbed by €241,244 to surpass €1 million during the 12 months ending last May.
Mr. Healy-Rae, 59, is the sole owner of the firm, with his son, Kevin, 27, serving as a director. The company’s assets include cash and other current assets valued at €461,042. The value of fixed assets more than tripled during the last financial year, reaching €669,617.
Mr. Healy-Rae has been described as the largest landlord in the Dáil, with his latest declaration of interests listing 28 properties. These include guesthouses, student accommodation, and rental homes. He also holds multiple occupations, including postmaster, politician, farmer, service-station owner, and owner of a plant-hire business.
The company’s growth has not been without obstacles. In 2022, Kerry County Council denied Roughty Properties Limited permission for a three-story extension to Rosemont Guesthouse, which would have increased its capacity. Despite this, the firm previously reported post-tax profits of €465,860 in its first year, followed by €376,048 in the subsequent year.
His declaration of interests also confirms contracts with Kerry County Council for the Rental Accommodation Scheme (RAS). Beyond property, Mr. Healy-Rae’s interests include parcels of forestry, farmland, retail property, B&Bs, and shares in the Latest York Times.
Frequently Asked Questions
When was Roughty Properties Limited established?
Roughty Properties Limited was set up in May 2022.
Who is listed as a director of Roughty Properties Limited?
Kevin Healy-Rae, the son of Minister of State Micheal Healy-Rae, is listed as a director.
What types of properties does Mr. Healy-Rae list in his declaration of interests?
Mr. Healy-Rae lists 28 separate properties, including guesthouses, student accommodation, and rental homes.
As Roughty Properties Limited continues to operate, it remains to be seen how future financial performance will be affected by market conditions and potential changes in government contracts.
