Huge in­crease in in­dus­trial space deals

Belfast Telegraph - Business Telegraph - - News - BY RON­ALD QUINLAN

OVER one mil­lion square feet of in­dus­trial space was taken up across 36 deals in the three months to the end of Septem­ber, ac­cord­ing to the lat­est re­port on the sec­tor in the Repub­lic.

Agents JLL said that the 1,075,037 sq ft rep­re­sents an in­crease of 92% on the take-up for the sec­ond quar­ter. The uplift was largely ac­counted for by a num­ber of large leas­ing deals which were ex­e­cuted in the pe­riod.

The top five deals rep­re­sented 58% of to­tal take-up in the third quar­ter.

While over­all take-up was dom­i­nated by smaller-sized deals, with 47% of trans­ac­tions in­volv­ing spa­ces of less than 10,000 sq ft, deal size con­tin­ues to grow. Some 28% of deals in the third quar­ter were for spa­ces of be­tween 10,000 sq ft and 30,000 sq ft. The av­er­age deal size was 29,862 sq ft, more than twice the level in the same pe­riod in 2017.

The largest deal in the pe­riod was a 20,425 sq m (219,853 sq ft) sale at Lufthansa, Naas Road.

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