Office deal makes Casey hot property

One More Thing: The Irish property market might be softening, but that hasn't stopped Norah Casey and her husband Richard Hannaford…

One More Thing:The Irish property market might be softening, but that hasn't stopped Norah Casey and her husband Richard Hannaford paying €3.3 million to buy Rosemount House in Dundrum.

The pair intend to rent the 420sq m (1,377sq ft) building to Harmonia, the publishing group that they jointly own, which last year made an operating profit of about €500,000. Harmonia publishes U Magazine, Woman's Wayand Irish Tatler, among others.

It's a neat arrangement and the couple are obviously confident that commercial rents will remain high for the foreseeable future.

Ironically, the office probably cost Casey and her husband more to buy than the company. Not that we're ever likely to find out, as Casey and Hannaford have remained tightlipped about how much they paid for the publishing business when they bought it in 2004 from Smurfit Kappa.

Ciarán Hancock

Ciarán Hancock

Ciarán Hancock is Business Editor of The Irish Times