A new benchmark yield of under 5 per cent in Cork's Patrick Street has been set with the sale by the Guinness Group of a retail investment. A private investor has paid about £000,000 for 86 Patrick Street, which was the group's southern area sales office.

Advised by Jones Lang Wootton, the company let the building to the Japan fashion group at a rent of £90,000 per annum before putting the investment on the market. The building has 3,264 sq ft on three levels, including 1,334 sq ft at street at street level. JLW refused to comment on the sale price.