HWBC Release Office Review & Outlook H1 2023

Office take up for the first 6 months at 678,000 sq ft is below the long-term half yearly average. The technology sector remains active on new take-up but not at previous scale. The average deal size has fallen to 7,500 sq ft with 91 deals recorded in the first six months. While the market has not stalled, the lower activity means occupiers’ remain cautious for the present on space requirements. The wider market has suffered adverse events over the last 3 years and larger organisations continue to size their space needs for post Covid work practices. More companies will seek the return of employees to the office for minimum 3 days a week and in response more building owners will pursue multi-let strategies.

Read our full report here.

If you have any queries please contact our Office & Business Space team:

Paul Scannell – Director, Head of Office & Business Space, T: + 353 1 77 50 527, E: pscannell@hwbc.ie

Emma Murphy – Divisional Director, T: + 353 1 77 50 519, E: emurphy@hwbc.ie

Conor Kevany – Director, T: + 353 1 77 50 506, E: ckevany@hwbc.ie

Kieran Curtin – Associate Director, T: + 353 1 77 50 511, E: kcurtin@hwbc.ie 

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