Among the popular bars, fine dining and historical landmarks of Dublin is a flexible workspace market which is not only diverse in its offering, but becoming increasingly popular for both local, and international businesses.
It is no secret that with the UK’s decision to leave the EU, Dublin has become increasingly attractive for a number of businesses looking at new locations for their European headquarters. Recent reports show that over 12 million sq. ft. of office space is set to hit the Dublin market over the next five years, to cater for the expected increase in demand, post-Brexit.
Flexible workspace centres across Dublin boast occupancy levels of around 90%. They charge top-end rates of up to €900 per workstation, which is a rate comparable to most areas in central London.
Having said this with an average desk rate that currently sits at around half of this figure for the market as a whole, there is a variety of space in the city to suite a wide range of budgets and size requirements.
In terms of the type of companies looking for space, there is a real variety from health supplement suppliers, to law firms and everything in between.
There has been a recent increase in the number of technology firms, some of whom now occupy entire floors of flexible workspace. Other sectors which have seen an increase are the legal and financial sectors, as reported in the Financial Times back in June last year.
This is mainly due to the lowest corporation tax rate of major European countries. Combined with the referendum result it has meant that many of these firms have started shifting operations out of the UK to the closest EU hubs, Dublin being one of them along with Paris and Frankfurt.
However, it is not just UK based companies that are seeking homes in these EU hubs, a number of large US firms looking to establish themselves in Europe are also flocking to these EU cities as opposed to London.
The office space providers in Dublin are by no means standing still.
With this increase in demand, a number of these office space providers will look to grow their flexible workspace portfolio to match the demand from these new exciting client entrants into the market throughout 2017 and beyond.
Five of our favourite spaces in Dublin right now:
Merrion Square – Dublin 2 – Within easy walking distance of St Stephens Green, and Fitzwilliam Square, this fully serviced building has an abundance of character to impress clients.
Fitzwilliam Place – This landmark Georgian building has views of the canal and is just a short walk from Grand Canal Station. The design-led offices are equipped with the most up-to-date technology.
Sandyford – This purpose-built building offers a wide range of flexible office space for up to 50 people, just six miles south of the city centre on the popular Sandyford Industrial Estate.
Marine Road, Dun Laoghaire – Away from the hustle and bustle of central Dublin this centre provides lovely sea views and specialises in the provision of self-contained one, two and three person offices.
Ormond Quay – Surrounded by a great local legal community this historic commercial location provides lovely cityscape views from a choice of fully furnished and equipped office space and executive private suites.
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