Profits at Michael Healy-Rae's property firm exceed €1 million

Darragh Mc Donagh

Accumulated profits at a property management company owned by Minister of State Michael Healy-Rae exceeded €1 million last year, according to newly filed accounts.

Roughty Properties Limited was set up by the Kerry politician in May 2022, and has been linked to a guesthouse in Tralee used to accommodate Ukrainian refugees, among other properties.

Healy-Rae, 59, is the sole owner of the firm, while his son, Kevin, 27, is also listed as a director.

Accounts just filed to the Companies Office show that accumulated profits climbed by €241,244 to just over €1 million during the 12 months to the end of last May, while the firm had cash and other current assets worth €461,042.

Healy-Rae has been referred to as the largest landlord in the Dáil. His latest declaration of interests lists 28 separate properties, including guesthouses, student accommodation, and rental homes.

He lists his occupations as a postmaster, politician, farmer, service-station owner, owner of rental properties, and the owner of a plant-hire business. He is a director of four companies.

In 2022, Kerry County Council refused planning permission to Roughty Properties Limited for a three-storey extension to Rosemont Guesthouse, which would have significantly expanded its capacity.

The value of fixed assets at the company increased more than threefold to €669,617 during the last financial year, while cash and current assets decreased by €257,004 to €416,042.

The firm had previously reported €465,860 in post-tax profits during its first year of incorporation, followed by another €376,048 in the subsequent 12 months to the end of May 2024.

Healy-Rae’s Rosemont guesthouse received €1.22 million from the Department of Children, Equality, Disability, Integration and Youth during the 27 months to the end of December 2024, according to official figures.

His declaration of interests confirm that Roughty Properties Limited held contracts with the department for the accommodation of Ukrainians in 2025, while he also had contracts with Kerry County Council for the Rental Accommodation Scheme (RAS).

Healy-Rae, who is the minister of state with responsibility for forestry, also owns a number of parcels of forestry, according to his declaration of interests, along with farmland, retail property, and B&Bs.

His other interests include shares in the New York Times.