Office
Similar to all other regional office markets, activity in the Limerick office market was limited at the start of 2021, as Ireland re-entered level 5 lockdown. Since the re-opening of society, take up has improved, with 7,450 sq m occupied in the nine months to Q3 2021. This represents an annual decline of 16%. The majority of this space, 56%, is in the city centre, followed by 40% in the suburbs and the remaining in the Shannon Free Zone.
Industrial
Coming off the back of a record year in 2020, the Limerick Industrial market witnessed just shy of 25,000 sq m of space occupied across 15 units by the end of September 2021. However, it should be noted that approximately 17,750 sq m of this can be attributed towards the Edward Life Sciences unit in Catletroy, a design and build project which finished completion and was occupied in Q2 2021.
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