I have a formula derived from concatenation as follows:

=CONCATENATE("OFFSET([master1.xls]x1!A1,",B2,",7)")

which gives me the result:

OFFSET([master1.xls]x1!A1,2,7)

I am trying to use INDIRECT to return the value in the cell given by this formula by using:

=INDIRECT(CONCATENATE("OFFSET([master1.xls]x1!A1,",B2,",7)"))


However, when do this, I get a #REF! error.

I'm puzzled because the direct formula itself is:

OFFSET([master1.xls]x1!A1,2,7)

which works fine and appears identical to my concatenated result (unless I'm missing something).

I'm pretty sure this worked for me before. Does anyone know where I'm going wrong?

Any help would be much appreciated.