Commercial Property

Industrial property rents soar after bumper year for deals

Average size of transactions for industrial and logistics space hit record highs last year

The largest transaction in Dublin involved the letting of 287,000 square feet to the third-party logistics company Wincanton at Greenogue Logistics Park, designated as Ikea’s main distribution hub for Ireland

Big transactions for industrial and logistics space in 2023 drove the market’s average deal size up to record levels, new research by Savills has shown.

The review of the Irish industrial and logistics property market by the property advisor firm said almost 3.3 million sq ft of space was leased up last year. The level of activity recorded in 2023 represented a 10 per cent increase on the previous year and 11 per cent increase ...