  We report sample preparation, structure, electrical resistivity, magnetic
susceptibility and heat capacity studies of a new compound Yb$_2$Ir$_3$Ge$_5$.
We find that this compound crystallizes in an orthorhombic structure with a
space group PMMN unlike the compound Ce$_2$Ir$_3$Ge$_5$ which crystallizes in
the tetragonal IBAM (U$_2$Co$_3$Si$_5$ type) structure. Our resistivity
measurements indicate that the compound Yb$_2$Ir$_3$Ge$_5$ behaves like a
typical Kondo lattice system with no ordering down to 0.4 K. However, a
Curie-Weiss fit of the inverse magnetic susceptibility above 100 K gives an
effective moment of only 3.66 $\mu$$_B$ which is considerably less than the
theoretical value of 4.54 $\mu$$_B$ for magnetic Yb$^3+$ ions. The value of
$\theta_{P}$ = -15.19 K is also considerably higher indicating the presence of
strong hybridization. An upturn in the low temperature heat capacity gives an
indication that the system may order magnetically just below the lowest
temperature of our heat capacity measurements (0.4 K). The structure contains
two sites for Yb ions and the present investigation suggests that Yb may be
trivalent in one site while it may be significantly lower (close to divalent)
in the other.
