EY’s decision to take in excess of 130,000sq ft of space at Two Wilton Park, in Dublin 2, represents the largest deal that completed in the third quarter of this year. Photograph: Tom HonanThe increasing shift to a clear preference for ESG space underscores the importance occupiers place on being environmentally conscious and acquiring sustainable properties, presenting an increasingly compelling opportunity for both investors and occupiers.
Of the total space taken year to date, 66 per cent had ESG credentials. In the city centre market, occupier preference for space with ESG credentials has become even more pronounced, making up 72 per cent of total city centre office space taken since January.‘There are times I regret having kids. They’re adults, and it’s now that I’m regretting it, which seems strange’Overall, take-up is being driven by a number of high-value-adding sectors which continue to experience strong employment growth.
BNY Mellon has taken 79,000sq ft of LEED Platinum space at the Shipping Office in Dublin 2, which was the largest deal in the financial services sector. The increasing shift to a clear preference for ESG space underscores the importance occupiers place on being environmentally conscious and acquiring sustainable properties, presenting an increasingly compelling opportunity for both investors and occupiers.
The overall vacancy rate has now peaked for this cycle , which we forecast that it would in 2024, and while it may increase slightly from the Q3 level by year end, as new space which is due to complete and that is not pre-let adds to the overall space available, it will not go back up to where it was earlier in the year. The vacancy rate will be on a clear downward trajectory in 2025.