Industrial & Logistics
Activity in the Dublin industrial and logistics sector has been very sluggish through 2024 and this trend continued in Q3 with a total of only approximately 36,000 square metres of space taken up in the period. Although this was up compared to Q2 2024 the total space taken up in the 12 months to the end of Q3 has only amounted to approximately 159,000 square metres, some of the lowest levels seen in over a decade. A number of factors such as greater uncertainty around the broader economic outlook and higher interest rates have been behind the softer market tone while low availability of prime industrial stock has also been another headwind this year.
Download Dublin Industrial & Logistics Marketbeat to get the full picture.
Office
Q3 2024 saw another positive recovery step for the Dublin office market with take-up totalling approximately 53,200 square metres across 53 deals. The third quarter again saw gross availability levels rise to approximately 745,000 square metres as the completions at College Square and Coopers Cross flowed into the available stock. This translated into an availability rate of 16.7% for the Dublin market while the CBD availability rate also stood at 16.7%, up from 14.7% in Q2. However, an important corollary of the rise in Q3 availability is that the Dublin office development pipeline to 2026 continues to fall sharply.
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