Commercial Property

Dublin office rents predicted to fall as ‘grey space’ rises

Pandemic-related delays in office delivery and office requirement changes will lead to a complicated office lettings and sub-lettings market in 2023

The Cadenza Building in Dublin 2: the availability of office space to let in 2023 is set to be complicated with a number of large buildings due to be delivered at a time when a number of city centre buildings are also available to sub-let, like the Cadenza Building

Last year saw the delivery of a total of 223,000 square metres to the Dublin office market, 81 per cent of which was located in the city centre.

Almost 62,710 square metres was completed in the city centre in the final quarter of the year, 73 per cent of which is let.

However, as is the case in the market at the moment, there are lots of moving parts; while the Cadenza Building in Dublin ...