Ireland Commercial Property Market: Dublin News and Market Outlook | 7–14 November 2026

Published 14 November 2026 · Commercial property update for Dublin and Ireland

Ireland’s commercial property news flow during the week of 7–14 November 2026 was relatively concentrated rather than broad-based. The clearest signals came from Dublin’s logistics, industrial, office and hospitality markets: occupier demand remains strongest for well-located, modern and operationally efficient buildings, while investors continue to distinguish sharply between prime assets and secondary stock.

This article reviews the verified developments identified during the past week, then places them in the context of the latest available market data from the Colliers Ireland Capital Markets Report, the Knight Frank Dublin Logistics and Industrial Report, the SCSI Commercial Property Market Monitor and the Central Bank of Ireland’s Dublin office vacancy analysis.

Executive summary

• Logistics remains the strongest commercial property segment. Dublin logistics take-up reached 177,000 sq m during 2026 to date, ahead of the 161,000 sq m recorded over the same period in 2025. ([knightfrank.ie](https://www.knightfrank.ie/research/dublin-logistics-and-industrial-november-2026?utm_source=openai))
• New lettings at Dublin Airport confirm demand for well-connected industrial space. Air Liquide Healthcare Ireland, Indra Mobility and Veloris reportedly took a combined 43,000 sq ft at a Dublin Airport logistics scheme. ([construo.io](https://construo.io/latest-construction-news/172806/chancerygate-and-bridges-secure-trio-of-dublin-airport-logistics-lettings?utm_source=openai))
• Portobello demonstrates the potential of adaptive reuse. A vacant commercial site at 49–51 Pleasants Street is being transformed into a 105-unit, 4,040 sq m aparthotel, according to Hospitality Ireland. ([hospitalityireland.com](https://www.hospitalityireland.com/hotel/vacant-portobello-site-to-be-turned-into-105-unit-aparthotel-218110?utm_source=openai))
• Investment activity has materially improved in 2026. Colliers recorded €673 million of Irish commercial property investment in Q3 2026 and €2.16 billion year to date, 34% ahead of the comparable period in 2025. ([colliers.com](https://www.colliers.com/en-ie/research/q3-2026-capital-markets-report?utm_source=openai))
• The recovery is selective. SCSI expects prime assets to outperform secondary stock, with surveyors forecasting stronger rental and capital-value growth for prime offices, industrial assets and retail than for weaker-quality stock. ([scsi.ie](https://scsi.ie/mid-year-commercial-property-market-monitor-2026/?utm_source=openai))
• For Dublin owners, presentation, energy performance, tenant quality, lease structure and location are increasingly decisive. This is an interpretation of the market evidence rather than a direct forecast from one source.

Verified news from the past week

The number of major national transactions reported during this particular seven-day period was limited. That is important in itself: the market is active, but deal announcements are arriving in a more selective and asset-specific way than during periods of broad speculative expansion.

Dublin logistics: the clearest positive signal

The strongest current evidence remains in Dublin’s logistics and industrial market. Knight Frank reported that take-up had reached 177,000 sq m in 2026 to date, compared with 161,000 sq m during the same period last year. Units above 5,000 sq m accounted for 61% of leasing activity, while logistics operators and businesses supporting data-centre and digital-infrastructure sectors were among the most active occupiers. ([knightfrank.ie](https://www.knightfrank.ie/research/dublin-logistics-and-industrial-november-2026?utm_source=openai))

Prime headline rents were reported at €14.50 per sq ft, with new Grade A space expected to achieve approximately €14.75–€15.00 per sq ft in the coming quarters. Prime yields were reported at approximately 5%, although actual pricing depends on lease length, covenant strength, building specification, vacancy risk, incentives, capex requirements and location. ([knightfrank.ie](https://www.knightfrank.ie/research/dublin-logistics-and-industrial-november-2026?utm_source=openai))

The reported Dublin Airport lettings add a practical transaction-level example to that wider trend. The combined 43,000 sq ft letting indicates that occupiers are still prepared to commit to modern industrial space when the location supports distribution, healthcare, mobility or related operational requirements. ([construo.io](https://construo.io/latest-construction-news/172806/chancerygate-and-bridges-secure-trio-of-dublin-airport-logistics-lettings?utm_source=openai))

What this means for owners and investors

• Well-located industrial units may benefit from stronger tenant demand and a deeper pool of potential occupiers.
• Older units should be reviewed for loading access, yard depth, energy performance, fire compliance, office-to-warehouse balance and refurbishment requirements.
• Small and mid-sized units can attract a broader occupier base, but management intensity and reletting risk should be priced into any investment decision.
• For landlords, a professional lease strategy may be as important as the asking rent. Covenant strength, break options, rent reviews and repair obligations can materially affect value.

Adaptive reuse: from vacant commercial space to hospitality

Hospitality Ireland reported on 12 November that Bob W had secured the development of a 105-unit aparthotel at 49–51 Pleasants Street in Portobello. The project is expected to transform an underused commercial site into approximately 4,040 sq m of hospitality accommodation. ([hospitalityireland.com](https://www.hospitalityireland.com/hotel/vacant-portobello-site-to-be-turned-into-105-unit-aparthotel-218110?utm_source=openai))

The project is significant because it illustrates a wider commercial property theme: vacant or obsolete buildings are increasingly being assessed for their alternative-use potential. In central Dublin, the value proposition may no longer depend solely on conventional office or retail use. Hospitality, flexible accommodation, residential, student housing, medical, education and mixed-use formats may all be relevant, subject to planning, building-control, fire-safety, funding and operational considerations.

Adaptive reuse is not automatically viable. A building’s floor-to-floor heights, servicing, access, protected-structure status, daylight, fire strategy, planning history and construction cost can determine whether a proposed change of use creates value or destroys it. Owners considering a disposal should therefore obtain advice on both existing-use value and realistic alternative-use scenarios before setting a price or launching a campaign.

Investment market: stronger turnover, selective pricing

Colliers reported that Irish commercial property investment reached €673 million across 22 transactions in Q3 2026, bringing year-to-date turnover to €2.16 billion. Year-to-date investment was reported to be 34% ahead of the same period in 2025. The living sector accounted for €248 million, offices for €185 million and industrial and logistics for €164 million in Q3. ([colliers.com](https://www.colliers.com/en-ie/research/q3-2026-capital-markets-report?utm_source=openai))

Colliers also reported prime yields of approximately 4.85% for offices, 4.75% for industrial and logistics, 5.00% for high-street retail, 6.00% for retail warehouses and 7.00% for shopping centres in Q3 2026. These are market indicators, not automatic valuations for individual properties. ([colliers.com](https://www.colliers.com/en-ie/research/q3-2026-capital-markets-report?utm_source=openai))

The investment evidence points to a market with capital available for the right assets, rather than a market in which every property is repriced upwards. Investors are likely to focus on income durability, tenant covenant, lease expiry profile, ESG credentials, capex exposure and the ability to create additional value through active management.

Offices: improving demand but a two-speed market

Colliers reported that Dublin office take-up reached 530,884 sq ft across 55 transactions in Q3 2026, with total take-up of approximately 1.6 million sq ft during the first nine months. The overall vacancy rate was reported at 13.4%, down from 13.9% in Q2 and 14.3% a year earlier. More than 1 million sq ft of office space was reserved at the end of the quarter. ([colliers.com](https://www.colliers.com/en-ie/research/q3-2026-office-market-report?utm_source=openai))

However, the Central Bank of Ireland has presented a more cautious scenario framework. Its central scenario suggested that Dublin’s office vacancy rate could rise to just over 19% during 2026 before falling below the end-2024 level of 18.6% by the end of 2027. The difference between agency market reports and macroprudential scenarios reflects different measurement methods, timing and assumptions; it is not necessarily a contradiction. ([centralbank.ie](https://www.centralbank.ie/publication/research-publications/staff-insights/what-next-for-the-dublin-office-vacancy-rate–a-framework-to-examine-short-run-scenarios?utm_source=openai))

The practical conclusion for owners is that “Dublin office” is too broad a category to be useful on its own. A prime, refurbished, amenity-rich building near public transport may have a very different demand profile from an older, poorly configured or energy-inefficient building in a less accessible location.

Office investment checklist

1. Assess the building’s energy rating, operational energy costs and likely future compliance requirements.
2. Review floor plates, natural light, lifts, showers, bicycle facilities, parking and end-of-trip amenities.
3. Analyse the tenant’s covenant, lease expiry profile, break options and rent-review structure.
4. Quantify the cost and time required to re-let vacant space, including fit-out contributions and incentives.
5. Prepare a realistic alternative-use appraisal, but do not assume planning permission or funding will be available.

Retail and mixed-use property: quality and catchment matter

SCSI’s 2026 mid-year monitor described a market that is stabilising but uneven, with prime assets expected to outperform secondary stock. Surveyors forecast average prime office rental growth of 6% and capital-value growth of 4% over the following 12 months. For industrial assets, the corresponding forecasts were 4% rental growth and 3% capital-value growth; for prime retail, 3% rental growth and 2% capital-value growth. ([scsi.ie](https://scsi.ie/mid-year-commercial-property-market-monitor-2026/?utm_source=openai))

SCSI also reported that three out of four respondents believed occupiers were prepared to pay a premium for buildings with strong ESG and workplace credentials. This suggests that retail, office and mixed-use owners should treat energy performance, comfort, accessibility and customer experience as part of the leasing proposition rather than as secondary technical matters. ([scsi.ie](https://scsi.ie/mid-year-commercial-property-market-monitor-2026/?utm_source=openai))

For retail owners, the key questions are likely to include:

• Is the unit positioned within a durable local or regional catchment?
• Can the frontage, signage, servicing and access support the target occupier?
• Does the rent reflect the tenant’s realistic turnover and operating costs?
• Can the property support food, medical, convenience, leisure or service uses in addition to traditional retail?
• Are vacant periods, rates, insurance, repairs and fit-out contributions properly reflected in the investment appraisal?

Market dashboard

Our Dublin market view

From a commercial agency perspective, the current market rewards preparation. A property that is correctly positioned, properly documented and marketed to the right audience can still attract serious occupier and investor interest. Conversely, an asset brought to market without a clear rental strategy, accurate floor areas, strong presentation or an understanding of competing supply may lose momentum quickly.

For sellers, the most important early decisions are likely to be pricing, timing, campaign structure, preparation of technical information and the selection of the most appropriate buyer pool. For investors and landlords, the focus should be on sustainable income, lease events, tenant retention, capital expenditure and the realistic potential for rental or operational improvement.

Our interpretation of the latest evidence is that Dublin is not one commercial property market but a series of highly differentiated submarkets. Prime logistics near major transport infrastructure, high-quality offices in established employment locations and adaptable mixed-use buildings are attracting the strongest attention. Secondary assets may still offer opportunity, but only where the purchase price compensates for the work, risk and time required to reposition them.

What sellers should do now

1. Obtain an evidence-based valuation. Use recent comparable transactions, current letting evidence, lease details, vacancy risk and likely purchaser returns rather than relying on historic asking prices.
2. Review the income profile. Confirm passing rent, rent-review dates, break clauses, arrears, service-charge recoverability and lease compliance.
3. Prepare the asset. Address presentation, safety, access, energy information, floor plans, title documentation and outstanding maintenance before launch.
4. Define the buyer audience. A property may appeal to an owner-occupier, private investor, institutional fund, developer or alternative-use purchaser, but each requires a different sales narrative.
5. Plan the campaign around certainty. Clear information and an organised data room can reduce delays and improve competitive tension.

What investors and landlords should watch

• Prime industrial and logistics supply remains constrained relative to occupier requirements, but pricing should reflect financing costs and tenant covenant.
• Office investment requires detailed analysis of specification, location, refurbishment cost and reletting risk.
• Alternative-use opportunities can be attractive, but planning, construction and operating assumptions must be tested before acquisition.
• ESG and workplace quality are becoming more closely connected to rental performance and tenant retention.
• Smaller assets may offer attractive entry points, but active management, compliance and liquidity risks should be explicitly modelled.

How Casey Kennedy Estate Agents can help

Casey Kennedy Estate Agents is a Dublin property practice established in Stillorgan in 1985 and now expanding across Dublin and the commuter belt. Our team provides commercial sales, lettings and management, block and OMC management, rent reviews, commercial and residential valuations and Bluebook TEGoVA valuations.

We manage more than €2 billion in assets in Dublin, with agents based across the city’s northside, southside and city centre, supported by our flagship office at 149 Leeson Street Upper, Dublin 4.

Whether you are considering selling a commercial property, letting vacant space, reviewing rent, improving asset performance or acquiring an investment, our role is to provide clear advice based on market evidence and the specific characteristics of the property.

Speak to Casey Kennedy Estate Agents for a confidential discussion about your property, investment or landlord requirements.

Sources and verification note

This article was prepared using publicly available material located and reviewed on 14 November 2026. The reporting period for current news items is 7–14 November 2026. Some market statistics published during earlier weeks are included as context because they are the latest available sector data. Figures are reproduced or paraphrased from the linked sources and should not be treated as a valuation of any particular property. Market forecasts are opinions or survey results reported by the cited organisations, not guarantees of future performance.

• Dublin Airport logistics lettings report
• Hospitality Ireland Portobello aparthotel report
• Knight Frank Dublin logistics report
• Colliers capital markets report
• Colliers Dublin office report
• SCSI commercial property monitor
• Central Bank office vacancy analysis
• RTÉ report on Irish commercial property investment