The newly completed office block beside the Herbert Park Hotel in Ballsbridge, Dublin 4, has been almost completely let at the highest rents so far achieved outside the International Financial Services Centre. The distinctive 50,000 sq ft Embassy House has been developed by Sheelin McSharry in the final phase of its mixed scheme on the former Johnston Mooney and O'Brien site. The building has been at the forefront of a general upward movement in office rents over the past year with rents increasing throughout the marketing campaign from an initial £20 per sq ft to £24. A small suite on the top floor with outstanding views even made £30 per sq ft. The tenants include Cablelink, Computer Associates, Enterprise Oil plc, General Accident, Point Information Systems, PA Consultants and Wacker Chemicals.

Tony O'Loughlin of Jones Lang Wootton said a combination of a striking, high-profile building, excellent location and a very limited supply of space was responsible for pushing up rents. He expected that this trend would continue during 1998. Mr O'Loughlin is seeking £27 per sq ft for a section of the ground floor with 5,372 sq ft, which is still available. Apart from being finished to a high standard, the block has raised floors and air-conditioning.