An interesting investment opportunity for the private sector will arise shortly in Dublin 4, when Insignia Richard Ellis Gunne offers for sale an entire office floor occupied by a leading advertising agency.

The estate agency is quoting a guide price of over £1.3 million (€1.65m) for the 3,225 sq ft first floor of a modern office building, Victoria House, on Haddington Road. It is occupied by The Larkin Partnership at a rent of £50,000 (€63,500) per annum - the equivalent of £15 (€19) per sq ft - but according to Stefan Foster of the selling agents, the rent is likely to double when it is reviewed next November. The 20-year lease runs from 1996.

The sale comes at a time when many private investors, forced out of the residential market by anti-speculative tax measures, are considering buying individual office floors in new suburban blocks. The availability of the Haddington Road property is likely to attract considerable interest because of its quality and location.