€1.25m for office investment

The Lisney agency is guiding €1.25 million for Carnegie House, a modern office investment at Library Road, Dún Laoghaire, Co Dublin, which will give a new owner a return of 9.3 per cent. At that price the 1,137sq m (12,233sq ft) investment will have a capital value of only €9.4 per sq m (€102 per sq ft).

Carnegie House was built in 1998 as part of a larger development which included a car park. The office accommodation on three levels is let on three leases at an overall figure of €121,614. The weighted average unexpired lease term stands at just over 2.5 years.

The tenants are consulting engineers Michael Punch & Partners, Moloney O’Beirne Architects and St John of God Community Services.