Findlater House, a six-storey office and retail investment at O'Connell Street, Dublin 1, is expected to make in excess of £14 million when it is sold by tender on November 30th. It is one of the most interesting investments to have come on the market in a year when relatively few second-hand blocks changed hands. Patrick Curran of Harrington Bannon is handling the sale of the 25-year-old building, which is currently producing a rent roll of £747,038.

The block is to be sold either in three lots or as a single unit. If it is broken up, then private investors will have an opportunity to pitch for the retail elements - a new bar on Findlater Place renting at £50,000 per annum and three adjoining street-front units used by Eircom as a telecentre, which are producing a combined rent of £189,438. The rents on two of the leases are due to be reviewed.

Whoever buys the 44,868 sq ft of offices let to Eircom can also bank on a valuable reversion, given that the rent of £478,000 equates to just over £9 per sq ft. Similar accommodation has a rental value of around £13 to £14 per sq ft. The next rent review is fixed for October, 2001. Eircom's lease on the offices does not run out till 2011. The company also has the use of 75 spaces in one of the two on-site car parks.

An underground car-park with 24 spaces is let at £1,000 per space. A number of institutions are likely to be interested in the entire block, as Eircom accounts for 89 per cent of the rental income.

Dublin Corporation's plans to upgrade O'Connell Street, along with the proposed development of the Millennium Mall, is likely to enhance the value of Findlater House, according to Patrick Curran.