BORD na Mona has not yet decided whether to sell its former headquarters building at Lower Baggot Street, Dublin 2, following the letting of the entire block. Esat Digifone, the Irish-Norwegian consortium which is to run the country's second mobile telephone system, has taken a lease of the entire block of 40,000 square feet. The company originally took 24,000 square feet at £15 per square foot. Killian O'Higgins of Sherry FitzGerald confirmed this week that the balance of the space has also been leased to Esat. However, it is understood the company has sub-let the two upper floors of 18,000 square feet on a short lease to the US-based Citybank.

Last year, Bord na Mona spent around £2 million on refurbishing the building and replacing the glass-panelled walls which were leaking. A Bord na Mona spokesman said that with a strong tenant in place, the investment was now secure. The landmark building is currently producing a rent roll of £665,000. On the basis of a 7 per cent yield, it would be valued at around £8.75 million.