With medium-sized property investments on the scarce side, Lisney is likely to secure in excess of £1.6 million for a modern office and retail building, Castle River House, at 14/15 Parliament Street, Temple Bar, Dublin 2, which is for sale by private treaty.

Such a price would equate to a return of 6.6 per cent. The 7,000 sq ft building is currently producing £114,000, a figure that is expected to rise to £131,000 once the upward movement in office rents is reflected in reviews due to take place over the next three years. The ground floor was occupied for a number of years by Black and Decker and has been used as a restaurant. The four upper floors of office space are rented by British Telecom, O'Malley and Hoggan Ltd and Company Formations International. Some of the tenants qualify for double rent allowances and a remission of rates because the block is located in Temple Bar.