Take-up of industrial space almost doubles
TAKE-UP of industrial space in the greater Dublin area almost doubled to 40,000sqm in the third quarter of the year bringing the total take-up for the year to date to 142,000sqm compared to 84,000sqm for the same period in 2009.
These are among the findings from research by Savills Ireland which predicts that industrial take-up could increase 60pc to 175,000sqm for the full year compared to 110,000sqm in 2009.
Savills director Gavin Butler, said: "There were 36 industrial deals completed in Q3. Just two of these deals were sales, reflecting the continued difficulty occupiers' face securing finance and their reluctance amongst occupiers to use cash reserves."
Over half the Q3 take-up was recorded in Dublin southwest, with another 25pc recorded in the northwest.