The Criminal Assets Bureau is seeking offers in excess of €4 million for a block of apartments and shops it seized in Dublin over Christmas.
Eagle House, at Queen Street in Smithfield in the north inner city, was seized by the CAB from two criminals.
The premises are registered with the Companies Office under the name Gadbrook Ltd, a cash-and-carry business.
Gadbrook is owned by Christopher Dunne (62) and Noel Duggan (42).
Both men have convictions for handling stolen property. They have been under investigation by the Criminal Assets Bureau for the last three years.
The bureau is pursuing the men for a settlement of over €4 million. The proceeds of the sale of Eagle House will go towards settling that demand.
The five-storey block is situated in the heart of Dublin's Smithfield area, which has been transformed by development in recent years. It is made up of 14 apartments.
The apartments are situated above 6,000 sq ft of retail space on the ground floor which could house six or eight retail units.
Mr Ken Lowe of Lowe & Associates said the basement of the building could be used for parking, storage or office space. Lowe & Associates have been appointed by the Criminal Assets Bureau to sell the property. Mr Lowe said the block will be sold in one lot, most likely to an investor.
"It will be on show for the next few weeks and will be sold in around four or five weeks," he said. It will be sold at auction.
In the past, investors have not been slow to snap up properties seized by the CAB despite their previous ownership.
"We have sold a few properties for CAB and we have never had a problem, it just doesn't arise," Mr Lowe said.
He added that the property is "five or six years old" and in good condition.
Eagle House is the first property to have been put up for sale by the CAB this year following a number of property seizures in 2002.
The most high-profile case in 2002 involved the property assets of one of the world's biggest cocaine dealers, English-born Mickey Greene.
Greene had a two-bedroomed apartment in the IFSC's exclusive Custom House Harbour development as well as a country estate in Pitchfordstown, near Kilcock in Co Kildare. The five-bedroom property boasted many expensive trappings including a swimming pool, snooker room, sauna, floodlit tennis court and paddock.
The properties sold for about €1.5 million.
