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Near record office take-up across capital

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One South County

One South County

One South County

OCCUPIERS committed to taking a near record 825,000 sq ft of office space during the first three months of this year.

According to Knight Frank Ireland this was the second-highest first-quarter take-up behind only Q1 last year.

Covid-19's impact was reflected in the fall in the number of deals from 48 in Q1 2019 to 29 this year.

John Ring, of Knight Frank, expects this impact will continue into Q2 at least.

The technology, media and telecommunications (TMT) sector continued to drive take-up, accounting for the top seven deals in Q1 and 90pc of total space let.

Mastercard took the largest amount of space, 249,000 sq ft, at Cyril McGuire's One and Two South County Business Park.

In terms of location, the city centre accounted for 44pc of the market, followed by the south suburbs (39pc) and the west suburbs (16pc).

The second largest deal was ESB's pre-letting of 135,000 sq ft at Fitzwilliam 28, in Dublin 2 to software firm Slack which will move in later this year.

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