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CushWake Conversation: The Flex Office Market

12/09/2024

Exploring the Dublin Flex Office Market

Join us as we delve into the dynamic trends and changes in Dublin's Flex office space market, with insights from industry experts Aisling Tannam, Director, Offices and John Shannon, Divisional Director, Offices. Discover how both long-term leasing and flexible office spaces are being driven by similar market forces. Cushman & Wakefield has seen a significant increase in flex office deals over the past 18 months, with large corporate occupiers now utilising this option as part of their real estate strategy.

Location, Location, Location

For occupiers, the prime focus remains on securing the best locations in the heart of the city. Accessibility and amenities are top priorities, making central locations highly sought after. Dublin is becoming an attractive market for international operators. This competition has pushed local operators to enhance their offerings, and institutional landlords are integrating flex models into their portfolios.

 

The Appeal of Flexibility

Flex office spaces offer a short-term solution for real estate needs, allowing occupiers to sign leases for as little as twelve months. This flexibility is increasingly appealing, especially in uncertain times.

Cost Efficiency

Occupiers benefit from reduced capital expenditure with flex office spaces, avoiding large upfront costs. This cost-saving aspect is crucial in the current market climate.

Corporate Shift

Traditionally associated with startups, flex spaces are now being embraced by large corporates. This shift allows companies to establish a presence quickly and support team growth while planning long-term office solutions. Flex deals often run in parallel with long-term lease negotiations. This approach allows companies to quickly set up operations while planning their future office space, ensuring a seamless transition.

Future Growth

The demand for flex office space in Dublin is expected to rise over the next 12-24 months. New market entrants are keen to establish themselves in the city, driven by the success of the flex model.

As the market evolves, we may see the flex model expand into other sectors such as industrial and retail. The concept of flexible spaces is poised to grow and adapt, meeting the diverse needs of occupiers.

Watch video below:

Flex Office - WEBCARD_.jpg Dublin Flex Office social card_.jpg

CONTACTS

Aisling Tannam Dublin
Aisling Tannam

Director, Offices
Dublin, Ireland


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John Shannon
John Shannon

Divisional Director, Offices
Dublin, Ireland


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