The loss follows a return to profit last year after a £71.9m loss in 2009
Developer Helical Bar has made a pre-tax loss of £6.3m after returning to profit in 2010.
Yet the value of its portfolio was up to £532.2m for the year to 31 March, from £494.5m last year.
The troubled firm made a huge £71.9m pre-tax loss in the financial year to 31 March 2009, before returning to the black last year.
Its dividend was slightly up from 4.75p last year to 4.9p in 2011.
The firm has investments in Poland and Eastern Europe as well as London and the UK.
Michael Slade, chief executive, said: “It has been a long and hard four years since the warning bells sounded in mid 2007. It has required patience and discipline, however, the slate is now clean and the platform established to enable us to return to our outperforming ways.”