With many small investors looking for retail properties now that apartments and houses are out of bounds, another group of investments is to be offered for sale by tender on October 7th. Property developer Mr Phil Monaghan is likely to secure between £2.5 million and £3 million for Blanchardstown Plaza, a two-year development of shops and offices at Main Street, Blanchardstown, Dublin 15.

The complex comprises eight ground-floor shops and five first-floor office suites, all fronting on to the main street. The overall rent roll of £200,000 includes units with rents ranging from £5,500 to £41,500 per annum. With yields for suburban retail investments now averaging around 6 per cent to 7 per cent, individual lots here are likely to range from £75,000 to £570,000. Mr John Lombard, of Morrisseys, is anticipating strong interest in the properties, partly because of the restrictions on residential investments introduced in the Bacon report and also because of the anticipated fall in interest rates.