A site with planning permission for 167,000 sq ft of offices at Sandyford Industrial Estate in Co Dublin has been sold for close to £8 million. The 1.6-acre site is currently occupied by the premises of M J Flood which is relocating to Citywest Business Park. The planning permission provides for the new block to be sub-divided into separate units. The six-storey building will have a double level penthouse and a basement car park for 339 cars. Hamilton Osborne King originally quoted a guideline price of £5 million-plus when the site first went on the market but later suggested around £7 million because of the high level of interest. The strong price will come as a surprise as three financial institutions have already decided against prefunding new office developments in the Sandyford area because of fears that there could be an oversupply of space within a relatively short period. Paul McNieve of the selling agents said there were a number of developers among the half dozen groups which tendered for the site. He said the M J Flood facility is "without doubt the best site in Sandyford". It adjoins a large new office scheme being developed by Green Property Company. Earlier this month a consortium paid over £13.5 million for a commercial site of 5.7 acres sold by Oriflame at Blackthorn Drive in the Sandyford estate.