The Westmeath-based businessman, Christopher Bennett, has been selected to develop an office building of 200,000 sq ft as part of the tax driven rejuvenation programme in Ballymun, Dublin 11. Under the terms of the contract, the Northern Area Health Board and Dublin Corporation will occupy 110,000 sq ft with a right to acquire it after 14 years. The balance of the £50 million office block will be available for letting on the open market. Mr Bennett will be able to avail of 100 per cent capital allowances on the development, the latest in what is now the State's largest redevelopment scheme.

Next January, Ballymun Regeneration Ltd will invite proposals for the development of a swimming-pool and fitness centre as well as retail, offices and apartments at a total cost of around £40 million. A site of 3.5 acres earmarked for offices, a hotel and Section 23 apartments will go on the market once drawings have been completed and planning permission obtained. Niall O'Higgins of Lisney, who is advising Ballymun Regeneration, is hoping to pre-let some of the office space before opening discussions with developers.