Dublin 2 the top location for flexible office market with 72% of take-up in 2023

According to Workthere, this data further highlights the central business district's unparalleled attraction for businesses in search of flexible office solutions.

The data also sheds light on the sectoral distribution of flex office space uptake:

• Professional Services: 41%
• Technology: 24%
• Financial Services: 14%
• Other Sectors: 21%

Signalling robust growth in this sector, Workthere highlighted a number of new entrants to the flexible office market in 2024. Spaces at Donnybrook House opened its doors in February 2024, while Ella House phase two is slated for a launch before the end of quarter 1. Similarly, WeWork at Central Plaza and Clearspace at 13 Merrion Square are expected to welcome businesses from Q1 of this year.

Kim Hogan, Workthere's Lead in Ireland, emphasised the changing dynamics of office leasing:

"The average term length that companies commit to in flex space continues to increase and now stands at 22 months. For reference, this stood at 14 months in 2022," Hogan noted, highlighting a shift towards longer commitments.

Hogan further underscored the importance of commute-friendly offices with rich on-site amenities such as meeting rooms, breakout spaces, and events to foster collaboration and team spirit.

"The proximity to excellent public transport and local amenities significantly enhances an office's appeal. Evidence of this is reflected in the fact that 72% of deals occurred in Dublin 2 in the last 12 months," Hogan added, indicating a trend towards more holistic workspace solutions.

According to Workthere, this data not only underscores Dublin 2's dominance in the flexible office market but also points to the evolving expectations of businesses and their employees towards workspace environments. With the sector's rapid expansion, Dublin continues to establish itself as a prime destination for companies valuing flexibility, connectivity, and community.