Even estate agents get hit by gazumping

Gazumping seems to be all the rage these days, whether its a new house on an estate, or an expensive period house in south Dublin. And now it is happening in the commercial market. Major letting agency Wyse found itself in this unfortunate situation recently when it bid on a small office building in an unfashionable part of the city centre. They thought they were the highest bidder, but lo! someone else nipped in to buy the premises. But they won't go homeless. The company has refurbished a Baggot Street building, a good address from which to handle its £1.5 billion portfolio. Not bad for a company that was only started in 1980 by former banker Joe Wyse. His directors include his brother Peter, who specialises in apartment sales.