Commercial property

Regional cities enjoy tight market for logistics premises

Economic growth and supply-chain problems have seen demand surge, raising prices for rental of facilities in Cork, Galway, Limerick and other urban centres

Harbour Gate Business Park, one of five schemes under construction, totalling 39,900 square metres, which might ease lack of supply in Cork

A shortage of industrial and logistics properties and surging demand is benefiting not just regional cities, but also towns.

The surge in economic growth, IDA-backed job creation, and the switch to online shopping have combined with supply chain problems to boost demand for more storage.

Cork has been particularly impacted, with a vacancy rate of only 3 per cent. Kate English of Cushman & Wakefield said that while there had been a slight improvement in ...