Irish investors who pitched for two office blocks to be sold and leased back by Ericsson have been told that they are to be re-launched on to the market this autumn. A Japanese bank had been in discussions with Ericsson to acquire 14 buildings in nine European countries, including the office blocks in Dublin and Athlone. That deal is not proceeding and the Irish buildings are to be put back on the market after the summer recess.

Agents Druker Fanning and Partners had been quoting a guideline price of over £12.5 million (15.87m) for a 26,700 sq ft office building at Beech Hill Office Park in Clonskeagh, Dublin 4, and £13.5 million-plus (17.14m-plus) for a complex of 133,875 sq ft at Cornamaddy in Athlone. Ericsson will be paying an initial rent of £807,750 (1.026m) for Trimleston House, the theee-storey office building at Beech Hill Office Park. The Athlone faciliyt will be rented at £1.17 million (€1.49 million).