What is described as a gilt- edged investment - an office block let to Bank of Ireland at Clonskeagh Square, Dublin 4 - has come on the market through Finnegan Menton.
The agent is seeking offers over £2.6 million (3.3m) for the two-storey block which has a net internal floor area of 7,250 sq ft and 33 car-parking spaces. The lease, which has 22 years to run, is held by the Bank of Ireland subsidiary, Lifetime Assurance Company, which has sub-let the building to SmartForce. The current rent of £133,000 (168,875) is due to be reviewed in just over two years and according to the agents, the current rental value is £20 to £22 (25 to 28) per sq ft. A price of £2.6 million (3.3m) would equate to a yield of 4.7 per cent, eventually moving to 6.5 per cent once the rent review is completed.