The standalone Cedarhurst building on Arkle Road in Sandyford, Co Dublin, is to undergo refurbishment before being offered for letting through agents Browne Corrigan Chartered Surveyors.

The two-storey block with a floor area of 1,621sq m (17,488 sq ft) was recently sold by Lisney on behalf of Nama at a guide price of €4 million.

The building is located directly opposite a Luas stop and immediately adjacent to an office building owned by the Royal College of Surgeons. Brown Corrigan is to quote a rent of €215 per sq m (€20 per sq ft) and €1,000 for each of the 39 car-parking spaces, expecting to secure a return of up to 9 per cent for the new owner.

The block could be redeveloped in the medium to long term. Its location ensures that workers based there can take a 20 minute journey on the Luas to St Stephen’s Green in the city centre.