Although activity and sentiment rose in the final months of the year, the follow through to signed deals remained slow. Just 28,450 sq m signed in the final quarter as further lockdowns and work from home policies continued to place little pressure on even expanding firms to immediately commit to space.
Dublin Office Market Q4 2020
Ronan Corbett • 05/02/2021
2020 resulted in a sudden, unexpected and artificial slowdown placed on the Dublin office market, with the impact of COVID-19 felt across all bar the first quarter. Take up reached 167,700 sq m in the year as a whole, a decline of 30% on 2019 levels.
Insights • Industrial
The Dublin industrial market experienced a year of strong demand in 2020. Covid-19 adversity created unique opportunities which lead to increased activity in a market with limited availability. A total of 251,650 sq m was taken up via leasehold and freehold transactions.
Insights • Land
The Irish development land market witnessed a sharp slowdown in activity in 2020 due to COVID-19 related market disruption. During the height of market uncertainty, quarter two recorded just €44m worth of development land sites sold. The lowest level of quarterly turnover recorded since Cushman & Wakefield’s detailed series began in 2015.
Cushman & Wakefield undertakes valuation on the part of Cofinimmo, in sale and lease back of the Trinity Care Nursing Home Portfolio, in Ireland
The acquisition marks Cofinimmo’s entry to the Irish marketplace, by way of a €93M sale and leaseback, in conjunction with leading European operator and likewise new entrant DomusVi.
Dermot Hughes • 19/01/2021
Despite COVID-19 challenges, the final 3 months of the year witnessed a strong close to 2020 for the Irish investment market. According to the latest research by Cushman & Wakefield, a total of €861m transacted in Irish commercial property in the final quarter, bringing the year-end total to just over €2bn.
Kevin Donohue • 15/01/2021