Office
Supply remains incredibly low in the Galway office market. At the end of March, availability stood at just 23,775 sq m with a vacancy rate of 7.4%.. This is a sizable increase from Q1 2021, 41%. However, this is accountable for by the completion on Bonham Quay which is now undergoing fit outs. It should be noted that 9,250 sq m of space is signed or reserved in the Galway market, bringing net availability to circa 14,525 sq m. The
Industrial
Supply remains seriously constrained in the Galway industrial market. Approximately 8,350 sq m of space is available to let as of the end of March 2022, an annual decline of 69%. The corresponding vacancy rate as of Q1 2022 now sits at 1.7%, one of the lowest vacancy levels in the series. This level of availability is just marginally above the lowest point in Cushman & Wakefield's detailed series; recorded at the end of 2021, where a mere 6,150 sq m was available. Levels
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