A family bought a flat so their student son could have a place to stay – six years on, he’s still there
Curiously though, these deals provide mixed news about the overall market. On the positive side, both Stripe and EY are moving because of expansion. These successes reflect aspects of Ireland’s economy that augur well for future office demand. On the other hand, the transactions reflect challenges that are only receding slowly.
The second cautionary point is that Stripe is moving within the market. It currently occupies space in The One Building on Grand Canal Street. Unless this office can be quickly re-let, the net effect of Stripe’s deal at Wilton Park will actually be to drive up market vacancy – a second-order effect that the commentary has largely overlooked. This is not an isolated occurrence.