Scarce availability of large grade a office buildings in Dublin
Only 6 buildings over 7,000 square metres available in Dublin 2/4
9th July 2012 – Property consultants CBRE today released the latest update of their Dublin Offices Vacancy Map, which details the current options open to potential occupiers looking for offices of a certain size in the Dublin office market. The map highlights the current availability of accommodation for office occupiers with a requirement for more than 7,000m2 in the Dublin market. According to CBRE, although there is undoubtedly a large amount of office stock being marketed to let in the capital, there are now only 6 office buildings located in the prime Dublin 2/4 postcode (where the majority of office occupiers want to locate) that could accommodate a requirement of more than 7,000m2 in a single building.
According to Marie Hunt, Executive Director and Head of Research at CBRE, “The fact that there are no new office schemes in the development pipeline and unlikely to be any new speculative office development in Dublin until at least 2014 means that options for potential occupiers with a requirement to locate a large number of staff in a single building in the Central Business District of Dublin 2/4 are becoming scarce”.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 110 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.