Activity in the Dublin industrial market continued unabated in Q3 2012, as another strong quarter of transactional activity led to the highest level of industrial take-up since 2008 being signed in the first nine months of the year. Although down on the particularly strong level of transactions signed in Q2 2012, over 56,600 square metres of industrial accommodation was let or sold in Dublin in Q3 2012.
This brought the total level of industrial accommodation signed in the first nine months of 2012 to just under 157,000 square metres - an improvement of 46% on the same period in 2011.
Despite the continuing threat of a reduction in export demand from our main trading partners in Europe, positive economic trends emerged over Q3 2012 that served to slightly alleviate the immediate worries facing the Irish industrial sector. According to a leading purchasing manager’s index, an improvement in orders was witnessed in September 2012, while the latest retail sales figures grew for the second consecutive month in August 2012.
Although conditions remain challenging, these indicators are boosting some sectors of the industrial market such as storage and distribution. Indeed, these occupiers account for the greatest proportion of active requirements in the Dublin industrial market at present.
