Dublin Office Take Up Slows Through Q3

10 Oct 2017 | 10.59 am

Dublin Office Take Up Slows Through Q3

CBRE report says only 33,630 sq. m. were signed

10 Oct 2017 | 10.59 am

Office take-up slowed in Dublin through Q3 this year, with only 33,630 sq. m. signed during the three-month period, following a busy first half of 2017.

CBRE Ireland’s MarketView report for Q3 2017 notes that 23 of the 47 lettings signed in the period extended to less than 465 square metres (5,000 sq. ft) with no lettings of more than 4,645m2 (50,000 sq. ft) signed in the quarter.

The total number of lettings signed so far this year is now 168, comprising a combined 183,630m2.

One-quarter of the office take-up in Dublin in Q3 2017 occurred in the suburbs, says CBRE. Lettings to financial services companies accounted for 36% of take-up in the capital, with a further 20% to computers/high-tech tenants and 15% to the public sector.

The overall rate of vacancy at the end of Q3 was 6.18%, compared with 6.5% last quarter.

Prime headline rents now stand at €681 per square metre (€63.50 per sq. ft) and are likely to end 2017 at €700 per square metre (€65 per sq. ft), according to CBRE.

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