The following report incorporates a detailed overview of the Irish regional industrial markets including Dublin, Galway, Cork and Limerick. This market analysis covers occupationlevels, vacancy levels and rental performance in each location.
Dublin transaction levels have increased by 59% year on year, while activity in the other regional centres remains subject to cyclical fluctuations.
A review of the second quarter reveals that the most significant transaction occurred in the Dublin region with a letting of approximately 13,700 sq m on the Robinhood Road, Dublin 22. In the Limerick region, approximately 4,100 sq m wasacquired over four units in the Annacotty Business Park, North East region.
Similar to trends witnessed in the office market, despite excess supply in the market, there is an emerging shortage of large Grade A space in all the prime markets but in particular in Dublin.
With the exception of the Galway market, supply levels remain elevated across all of the regional centres with corresponding vacancy rates at particularly high levels.
Source : DTZ (Groupe UGL)