Industrial
The agreement of a 15% tariff ceiling on EU exports to the US over the course of the summer was a key sector development in Q3 that could be either seen as glass half empty or half full. Overall, although it’s disappointing to see the imposition of any tariffs on transatlantic trade we’re inclined to see it as more glass half full to the extent that it at least removes any further uncertainty for those in the industrial sector.
Office
The Dublin office market saw a robust start to 2025, with take-up of 42,800 sq m across 48 deals. Demand was well-distributed across sectors, led by technology (26%), financial services, professional services, and medical/health services. Major transactions included EY (5,100 sq m at Wilton Plaza), Apple (3,500 sq m at 4/5 Park Place), and Blackrock (2,000 sq m at Glencar House). 75% of activity was concentrated in the CBD.
Retail
The second quarter saw the retail sector outperform all others with a total of €159 million invested across a total of 8 deals, representing 42% of the total invested in Q2, an increase of 11% on last year’s figures, with a continued focus on both high street and retail park assets.
Hospitality
The Irish hotel investment market remained strong in the first half of 2025, with transactions totaling around €375 million. Major Dublin deals dominated activity including the €86 million sale of the Ruby Molly hotel by ESR Group to German investor Deka Immobilien. Leased to Ruby Hotels Group.
Investment
Irish investment spending reached a total of approximately €699 million, up compared to Q2 and 18% stronger than the total twelve months previously. In fact, the third quarter total by value was the best Q3 performance since 2022.
