Hyperlink function that goes to first empty or blank cell in a sheet fails.

I'm a new member so Hi to all. I'm using excel 2010 & have found a couple of quirks. latest being a nested function that's supposed to hyperlink to the first empty or blank cell in a range.
It the sheet I'm using it on only has 740 rows by 170 columns. No matter which column I select as the range, it returns a result of row 738, 3 short of whats supposed to happen.
for referance the function is,

Formula:

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(entered as a range in this instance, but could be absolute if required).
Ive done the obvious - cell formatting, hidden characters, entered as text, verified by'istext', 'isnumber' & 'len'
Any suggestions on how to make this more robust as I would like to use it on a 100K row spreadsheet. (that's the reason for the upgrade, 2003 only had 65K of rows)
I would prefer to stay with a function rather than use VBA for company reasons.
cheers & thanks in advance.

Found the problem, well 2 of em.
Should have remembered that rows are counted from the start of the range & hidden blank cells need to be accounted for.
Cheers anyway. problem solvered.

Cheers mate, thats a little neater.