• Despite reports to the contrary, Dublin has more than enough office stock in the pipeline to cater for any additional demand from Brexit relocations.

  • Dublin office market extends to > 3.7million m2 (40m sq.ft.) of which > 60% is located in the city centre.

  • Annual average take-up is approx. 172,000m2 pa (1.85m sq. ft.) & the overall vacancy rate is now in the region of 7.6% which compares well with other competing cities.

  • As at end Q3 2016, when buildings that are reserved are excluded, there is almost 285,000m2 (1.65 times annual average take-up) of office accom. available to let in the capital, contradicting the view that there is no office stock available.

  • In addition to the vacant stock, there is 372,637m2 (4m sq. ft.) currently under construction in the city centre in 29 individual schemes of which 22% is currently reserved.

  • This equates to just over 2 years supply & will add approx. 10% of office stock to the market.

  • 19% of the >372,637m2 is due for completion in 2016 with a further 56% due for completion in 2017.

  • 16% of the stock that is under construction & due for completion in 2017 has already been pre-let.

  • A further 80,000m2  of new office stock is under construction in the suburbs.

  • In addition 433,159m2 (4.6m sq. ft.) across 38 individual city centre schemes has a grant of planning permission & could also be commenced if required.

  • While a further 73,473m2 (790,569 sq. ft.) of city centre stock has applied for planning permission.

  • In summary, the visibility on potential delivery should give comfort to potential occupiers that Dublin is more than capable of providing sufficient high quality office accommodation if /as required.

  • Government must now ensure that there is sufficient housing & adequate infrastructure to facilitate this additional demand, if and when it materialises.