A new report published today by serviced office brokerage, Click Offices, has found that 4,500 new desk spaces are expected to be available in Dublin within the next nine months, equivalent to 230,000 sq ft in commercial property space.
 
The serviced office market rents fully equipped office spaces to businesses on flexible contracts, with internet, phone, electricity and other services typically included in the monthly fee. As these contracts are less restrictive compared to conventional leases and generally include overheads, they are popular among start-ups and new multinational companies scaling in Ireland. 
 
The Dublin serviced office market has grown by 43% in the last two years, accounting for a total of 12,000 desk spaces, or 615,000 sq ft. It is expected to grow by a further 37% within the next nine months.

Approximately 50% of serviced office tenants operate in the tech or financial services sectors and half are international companies. Tenants pay an average of €500 a month per desk.
 
Dublin 2 accounts for more than half of all serviced office space in the capital. There are 6,500 desk spaces in the city centre postcode, equivalent to 340,000 sq ft; a further 3,700 desk spaces are expected within the next nine months. Current Dublin 2 occupancy rates are between 85-100%, depending on the serviced office centre. 
 
Commenting on the figures, Managing Director of Click Offices, Shane Duffy said, "Serviced offices are increasingly popular, particularly with Irish start-ups and incoming FDI companies. We predict the serviced office market will grow by 37% in the next nine months, and by 54% in Dublin 2 alone. Ireland’s economic recovery makes the capital an increasingly attractive location for business."
 
Source: www.businessworld.ie