A private investor is believed to have paid in excess of £1.5 million for a retail and office investment occupied by Esat Digifone at 15 Westmoreland Street, Dublin 2 - equating to an initial yield of under 4 per cent. Loughnane Valuation Services had sought offers above £1.1 million for the five-storey over basement building, which is producing a rent of £60,000 per annum. The 35-year lease has another 24 years to run. Although the entire building is let to Esat, it occupies just the ground floor. The building is on the west side of Westmoreland Street which attracts a considerably heavier pedestrian traffic than the opposite side of the street. The high price paid for the building underlines the immense shortage of retail investments on Dublin's high streets.