Nicholas Corson of Finnegan Menton reports that the market for freehold Georgian houses has "taken off significantly" in Dublin's south inner city. The agency has just sold a Georgian investment at 19 Fitzwilliam Place for €1.56 million, well ahead of its asking price of more than €1.1 million. The house was viewed by some 70 parties. After competitive bidding it was sold to an Irish investor at a net initial yield of 4 per cent. The selling price equates to €4,197 per sq m (€39 per sq ft).

The four upper floors are let to Lucini and Lucini Communications while the basement is rented by Keating & Associates Public Relations. The combined passing rent is €66,000 with stepped increases up to €70,000. Both leases have break options in 2016. Corson says the house had been of interest as an investment but also to convert back to residential use.

He says there is now a shortage of good quality office suites in Dublin 2, where rental values have increased over the past 12 months from €193 per sq m (€18 per sq ft) to between €269 and €290 per s q m (€25 to €27 per sq ft).