Commercial property

Apple expansion is shot in the arm for Cork property market

In the city’s industrial and logistics sector, vacancy levels have dropped to less than 2 per cent due to robust occupier demand

An example of occupier activity increasing in Cork is a recent letting to US data security and analytics company Varonis at Penrose Dock, which is now almost fully let. Picture: Kuba

Apple’s recent announcement of plans to expand its presence in Cork is expected to further underpin interest in the city’s property market. The star performer is the local industrial and logistics sector, where vacancy levels have dropped to less than 2 per cent.

According to Philip Horgan of Cushman & Wakefield, the low vacancy combined with robust occupier demand “is resulting in a sustained upward trajectory on rental and capital values and a downward pressure ...