Office leasing activity in Dublin remains near record levels

CBRE statistics reveal bullish market amid strong employment growth

 

Office leasing activity in Dublin remains near record levels on foot of strong employment growth and speculation of a spill-over from London in the wake of Brexit decision.

Property consultants CBRE has published statistics showing more than 245,000sq m of commercial space was leased in 2016. The agency noted the 10-year average take-up of offices in the capital is approximately 172,000sq m per annum.

Dublin Office Take up Q3 2011-Q3 2016

Activity was strongest in the third quarter of the year, it said.

However, it added a number of significant lettings were concluded in the fourth quarter including the letting of 7,632sq m at Ballymore’s Dublin Landings scheme at North Wall Quay in Dublin Docklands to the NTMA.