Amazon shops for more office space in Dublin
Tech giant’s expansion may add to prime property squeeze in capital
An Amazon Echo Dot on display in Seattle this week: The ecommerce and tech giant is searching for more office space in Dublin. Photograph: Elaine Thompson / AP.
Amazon. com is searching for office space in Dublin that could hold as many as 800 people, according to two people with knowledge of the matter.
The ecommerce giant is looking for as much as 7,432 sq m (80,000 sq ft) of office space in the Irish capital, according to the people, who asked not to be named because the information is private. Amazon declined to comment.
Last year, Amazon said it would bring another 500 jobs to Ireland, adding to more than 1,400 people in Dublin.
Amazon’s search may add to a squeeze in the Irish capital’s office market, as companies from JPMorgan Chase to Barclays Bank expand in Dublin after the UK decided to depart the European Union.
While the office vacancy rate in Dublin stands at about 9 per cent, the figure falls to less than 1 per cent for top quality buildings in prime areas of the city, Savills said last week. A number of older office buildings were demolished this year adding to the shortage, the broker said.
“Demand for office space across Dublin remains robust,” Andrew Cunningham, head of offices at Savills said in the report.
“With Dublin city centre having become so built up over the past two decades, older properties are having to make way to allow for new development to take place.”