Clonskeagh office block back on the market for £2.75m

An office block let to the Bank of Ireland at Clonskeagh Square, Dublin 4, is now to be sold through Finnegan Menton

An office block let to the Bank of Ireland at Clonskeagh Square, Dublin 4, is now to be sold through Finnegan Menton. The agents reported considerable interest in the investment when it was first offered for sale before the holiday season. A decision has now been made to relaunch it on the market with a guide price of £2.75 million (3.49m). Nicholas Corson of the agency describes the property as a "gilt edged investment with the security of a bank covenant and 22 years still to run on the lease." The high level of car-parking space added considerably to the value of the investment.

The two-storey block has a net internal area of 7,250 sq ft and 33 car-parking spaces. The current rent of £133,000 (168,875) is expected to jump to at least £200,000 (253,947) when it is reviewed within two years. The building is let to Lifetime Assurance, a subsidiary of the Bank of Ireland. It was subsequently sublet to SmartForce on a long lease but Lifetime remains responsible for the lease.