The following report incorporates a detailed overview of the Irish regional industrial markets including Dublin, Galway, Cork and Limerick. This market analysis covers occupation levels, vacancy levels and rental performance in each location,
• The third quarter of 2013 witnessed mixed performance across the regional centres. Dublin transaction levels have increased by 48% year on year, as momentum continues to gather pace. Conversely, activity in the other regional centres remains subject to cyclical fluctuations;
• The largest transaction in the third quarter was the sale of Unit A, Aerodrome Business Park in Rathcoole, Co Dublin measuring approximately 9,000 sq m and acquired by Finning (Ireland) Limited;
• 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)