Industrial rents in EMEA's top five
Prime Dublin industrial rents have fallen to quoted levels of between €85-€90 per sqm, after ending 2009 at around €92 per sqm. This makes them the fifth most expensive in Europe, the Middle East and Africa (EMEA).
This is the view of agents CB Richard Ellis who believe that Dublin prime rents are unlikely to fall further.
At the end of 2009, Aer Lingus took a lease on the 23,000 sqm, former SR Technic' Hangar 6 from the Dublin Airport Authority.
This boosted fourth quarter (Q4) take-up to 53,000 sqm and the take-up for 2009 to 133,000 sqm. It meant Q4 2009 saw double the sales and letting activity of Q4 2008.
Garret McClean of CBRE, said activity increased between Q3 and Q4 in 2009. With a shortage of accommodation close to the N7, occupiers switched their focus to Dublin's northern districts, with the N2, N3 and M1/N1 corridors accounting for a total of 84pc of transactions in Q4.