OLIVES, the British property group which recently acquired a warehouse unit in Dublin for £550,000, is planning to expand its commercial property interests in Dublin and spend up to £5 million on acquisitions.

Olives' chairman, Mr Anthony Grant, said yesterday that the current shortage of stock in the investment and occupational markets is likely to lead to both rental growth and capital value enhancement.

Olives is looking for income-producing office, industrials and warehouse investments with scope for capital value improvements through modernisation and letting vacant space, Mr Grant said.