£1.4m expected for modern office investment

William Fennelly of Lisney expects to secure about £1

William Fennelly of Lisney expects to secure about £1.4 million for a modern office investment, Dargan House, at 21/22 Fenian Street, Dublin 2, when it goes to auction on February 20th. The 6,234 sq ft building is currently producing £94,112 from three tenants, Esmond Reily Solicitors, Worthington Data Solutions and Anglo Irish Beef Processors. A purchase price of £1.4 million would give an initial net yield of 6.2 per cent, a figure that should improve to 7 per cent following a review of the second floor in July, 2001, and the ground floor in August, 2002.