The Market

Market Overview

The Technology, Multimedia & Telecommunications (TMT) has been the top performing sector in terms of office take-up for many years, with major players such as Google, Facebook, LinkedIn, Microsoft and Amazon continuing to expand their presence in Dublin alongside smaller TMT companies. Recent years have seen a rise in take-up from other sectors, most notably the Public, Professional and Health & Pharma sectors.

Brexit has had a positive impact on the Dublin office market too, with many companies opting to open offices in Dublin to retain access to European markets.

In terms of location, the Prime City Centre (core CBD not including the docklands) remains the most popular for office occupiers, representing 45% of take-up year-to-date. The corresponding figure for 2019 was 41%.

Sample of Recent Office Lettings

DatePropertyPostcodeSq. ftSq. mTenantSectorHeadline
Rent (€ psf)
Headline
Rent (€ psm)
Q4 2019Charlemont Square 2Dublin 2170,12515,805AmazonTMT€53.50€576
Q1 2020Fitzwilliam 28Dublin 2134,65612,510SlackTMT€57.50€619
Q4 2019Cadenza, Earlsfort TerraceDublin 2112,76010,476IntercomTMT€60.00€646
Q4 201970 St. Stephens GreenDublin 262,0005,760Horizon
Therapeutics
Health & Pharma€60.00€646
Q4 20191st & 2nd Floors,
Two Park Place
Dublin 221,0001,951KPMGProfessional€60.00€646
Q4 2019Ground & First Floors,
5 Earlsfort Terrace
Dublin 216,0411,490OPWPublic€53.50€576
Q1 20204th & 5th Floors,
Harcourt Buildings
Dublin 214,2361,323Nuance
Communications
TMT€59.00€635
Q3 20204th & 5th Floors,
One Warrington Place
Dublin 213,6371,267RegeneronHealth & Pharma€61.00€657
Q2 20193rd Floor, Two Park PlaceDublin 213,0001,208GartnerProfessional€64.50€694
Q1 2019Ground & 1st Floor,
21 Charlemont
Dublin 211,9401,109NitroTMT€56.50€608

Further Information

Data Room

The following information is available from the BNP Paribas Real Estate Data Site:

  • Maps & Images
  • Legal Documents
  • Tenancy Details
  • Floor Plans
  • Plowman Craven Measured Survey

BNP Paribas Real Estate will provide a dedicated username and password for interested parties.

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Title

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Viewings

All viewings are strictly by private appointment through the sole selling agent.

Solicitor

Graham Quinn
DLA Piper Ireland
t +353 1 487 6660
dlapiper.com