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A NEW REPORT says that offices in Dublin are being rented quicker than some are being built.
A report from property consultants Savills says there has been a surge in office ‘pre-letting’ – the practice of tenants committing to lease contracts before a building has even been constructed.
According to Savills’ research, pre-lets accounted for 44% of all the Dublin office space leased in the last quarter of 2016. In Dublin 2 and 4, where the demand for business space is highest, pre-lets accounted for an even greater proportion of the market – 61%.
Savills chairman Roland O’Connell said that pre-letting is emerging because it delivers benefits for all parties in the market.
“Although enough Grade A space is available to accommodate around 2,200 office workers, occupiers with large space requirements or very specific locational preferences are facing an increasingly limited choice of buildings.
Pre-letting opens up a wider set of possibilities for tenants and some are willing to forego immediate occupancy in return for buildings that tick the right boxes in terms of location, fit and finish.
According to Dr John McCartney, Director of Research at Savills, in today’s era of tighter bank lending developers and investors often need to have tenants signed-up before they can access the development finance needed to build-out their schemes.
The phenomenon does, however, dampen rental growth as some developers may be willing to offer competitive rent deals to ensure their projects get funded and completed.
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I’ve also heard that Cadbury’s have hacked off one-fifth of Freddo the Frog .
And our giving redundancies to their staff as they are moving operations to a cheaper country
everybody is leaving. I am hoping to go myself and I am in the higher tax bracket. I stayed because i felt it served my country to pay tax and support others. I am now over it. It doesn’t serve me anymore. I am in debt and I would be better off elsewhere.
and when I say debt, its minimum and I can pay it back. Not compared to the fraudsters that gambled. They have put me and many others in debt
Dear Mr. Journalist. It’s “how quickly”, not “how quick”. When describing a verb, you use an adverb, not an adjective. I know that the internet likes to bugger with adverbs, particularly if it pertains to doing anything “direct”, but you, as indebted as you are to the English language for your living should be able to show that language just a modicum of respect.
I wish wikileaks would stop invading other people’s privacy. It worries me to think what would happen if they started targeting business and political figures over here, not that there’s anything to hide of course.
Fake account
Fake account but some of the view expressed aren’t far off the YFG mentality
I suppose Mr and Ms Majority really thought you looked like a silent when you were born?
Silent majority who are you?
Looks like Kevin and yfg are best buddies .. Interesting
Suzie are you and davedunne the same person? You both seem a bit obsessed with me.
Is that the best you could come up with ?
I differ in policy to yfg on most issue. It’s a careerists clubs for most. Boosts the cv for various employers. I dislike yfg and would never vote FG after what they’ve done.
have your say