DUBLIN solicitors Matheson Ormsby Prentice (MOP) is to assign the lease of its office block at Burlington Road, Dublin 4, to another legal firm following its decision to proceed with the lease of a new £7 million block to be developed at Herbert Street, Dublin 2. Solicitors Mason Hayes and Curran, is expected to occupy MOP's 18,000-square-foot block at the existing rent of £265,000 - the equivalent of £13.50 per squared foot. MOP is due to complete formal contracts within the next week to rent the new 47,000-square-foot block in Herbert Street, which is to be developed by businessman John Ronan. MOP will be paying a rent of £910,000 per annum, equating to £17 per square foot. It will be one of the first significant lettings at this figure. MOP will also be paying a reduced rate for 6,227 square feet of storage space in the lower ground floor and £1,250 for each of the 64 car-parking spaces. The 25-year lease, does not provide for a break clause but Mr Ronan is to indemnify MOP on the rent of the first floor of 9,363 square feet if it is not sublet within the first three years.

It is understood Hamilton Osborne King advised MOP.