Thursday 17 January 2019

Highest ever take-up recorded in Dublin office space in 2018

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Ellie Donnelly

Ellie Donnelly

The volume of office leasing activity recorded in the capital last year surpassed all previous records.

In total more than 364,000 squ. metres of office leasing activity occurred in Dublin during 2018, according to commercial real estate services firm CBRE.

Meanwhile, the overall rate of vacancy in the Dublin office market at the end of last year was just over 6pc.

Commenting on the activity, Marie Hunt, director and head of research at CBRE in Ireland, said: "2018 was the second consecutive year where the Dublin office market achieved above-average performance, boosted by several strategic transactions, predominantly from the expansion of occupiers in the technology sector."

"Most of the large transactions signed in 2018 occurred in some of the new office stock being delivered in the capital with occupiers committing to buildings in advance of practical completion," Ms Hunt added.

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