Exploring the Dublin Flex Office Market
Join us as we delve into the dynamic trends and changes in Dublin's Flex office space market, with insights from industry experts Aisling Tannam, Director, Offices and John Shannon, Divisional Director, Offices. Discover how both long-term leasing and flexible office spaces are being driven by similar market forces. Cushman & Wakefield has seen a significant increase in flex office deals over the past 18 months, with large corporate occupiers now utilising this option as part of their real estate strategy.
Location, Location, Location
The Appeal of Flexibility
Flex office spaces offer a short-term solution for real estate needs, allowing occupiers to sign leases for as little as twelve months. This flexibility is increasingly appealing, especially in uncertain times.
Cost Efficiency
Occupiers benefit from reduced capital expenditure with flex office spaces, avoiding large upfront costs. This cost-saving aspect is crucial in the current market climate.
Corporate Shift
Traditionally associated with startups, flex spaces are now being embraced by large corporates. This shift allows companies to establish a presence quickly and support team growth while planning long-term office solutions. Flex deals often run in parallel with long-term lease negotiations. This approach allows companies to quickly set up operations while planning their future office space, ensuring a seamless transition.
Future Growth
The demand for flex office space in Dublin is expected to rise over the next 12-24 months. New market entrants are keen to establish themselves in the city, driven by the success of the flex model.
As the market evolves, we may see the flex model expand into other sectors such as industrial and retail. The concept of flexible spaces is poised to grow and adapt, meeting the diverse needs of occupiers.
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