Ireland Commercial Property Market Weekly Review: Dublin Investment, Offices, Logistics and Retail | 24–31 October 2026

Published 31 October 2026 · Prepared by Casey Kennedy Estate Agents

Ireland’s commercial property market continues to move through a selective recovery rather than a broad-based boom. The clearest message from the latest reporting is that capital is available, but it is concentrating on properties with strong occupational demand, durable income, credible sustainability credentials and realistic pricing.

For Dublin, that means a market with two speeds. Prime and well-located offices, modern logistics buildings, high-quality mixed-use assets and operational hotels are attracting attention. Older, poorly specified or highly vacant stock requires a sharper business plan, more active asset management and, in many cases, a pricing adjustment.

This weekly review covers the principal Ireland-related commercial property stories and market signals published or highlighted between Saturday 24 October and Saturday 31 October 2026, with the latest available quarterly research used to put the news into context.

The week in brief

• Investment sentiment remains constructive: Q3 commercial property investment reached €673 million, bringing 2026 year-to-date turnover to €2.16 billion, according to Colliers research.
• International capital is driving activity: North American and mainland European investors accounted for 87% of Q3 investment volumes, according to the same report.
• Industrial and logistics remain one of Dublin’s strongest themes: Q3 take-up reached 824,400 sq ft across 17 transactions, with year-to-date take-up at 1.9 million sq ft, as reported by Business Plus.
• Office demand is improving, but unevenly: technology, finance, professional services, healthcare, retail and flexible workspace occupiers are active, while vacancy and specification remain decisive factors.
• Hotels and mixed-use assets continue to trade: recent offerings include the 229-room Premier Inn Dublin City Centre and Dublin 4’s Schoolhouse Hotel, demonstrating ongoing investor appetite for income-producing operational property.
• Retail and regional property remain highly selective: investors are favouring secure income, strong catchments, realistic yields and assets with a clear repositioning or leasing opportunity.

1. Investment market: larger transactions are returning

The strongest national investment signal is the return of larger transactions. Colliers recorded €673 million across 22 transactions in Q3 2026, lifting year-to-date investment to €2.16 billion, 34% ahead of the corresponding period in 2025. Colliers expects full-year turnover to exceed €3 billion if transactions currently in the market complete before year-end.

The market is not being driven by indiscriminate buying. The report describes a preference for high-quality assets where occupational fundamentals support long-term income growth. That is particularly relevant for Dublin sellers: a well-presented, well-let and energy-efficient property can attract international and domestic interest, while an asset with short leases, weak specification or substantial vacancy may need a more sophisticated sales strategy.

Sector allocation was led by the Living sector at €248 million, followed by offices at €185 million and industrial and logistics at €164 million. The office figure was boosted by BNY’s reported acquisition of The Shipping Office, while industrial and logistics remained a core institutional target.

RTÉ’s market report also highlighted the return of larger deals, noting that the average transaction size rose materially in Q3 and that investment exceeded €2 billion in the first nine months of the year.

2. Dublin logistics: demand is concentrating on scale and location

Dublin’s industrial and logistics market delivered its strongest quarterly performance in almost three years during Q3. Take-up rose 65% year-on-year to 824,400 sq ft across 17 transactions, according to research reported by Business Plus.

The increase was not simply a result of more small lettings. Four transactions exceeded 100,000 sq ft, and the average deal size increased to 48,500 sq ft. South-west Dublin accounted for 84% of quarterly take-up, reflecting the importance of the N7, N4 and M50 corridors to occupiers requiring access to labour, customers and national distribution routes.

For landlords, the lesson is clear: modern industrial and logistics property remains highly defensible when it offers efficient loading, yard depth, power capacity, strong road access, energy performance and flexibility for multiple occupiers. Conversely, older buildings can become difficult to let unless they are refurbished, subdivided or repositioned.

3. Offices: healthier demand, but a market of quality and relevance

The Dublin office story is improving, although the headline numbers need careful interpretation. Research from Colliers recorded 530,884 sq ft of Q3 take-up across 55 transactions and a vacancy rate of 13.4%, down from 13.9% in Q2 and 14.3% a year earlier.

Separate data reported by CBRE recorded 52,518 sq m of Q3 take-up across 54 deals. CBRE noted that AI-native companies had taken 10,676 sq m in Dublin during 2026, more than twice the amount recorded by that group across the previous ten years combined. The difference between the published datasets reflects differing methodologies and reporting bases, but both point to a more active market for high-quality space.

The most important office trend is not simply the return of demand; it is the return of specific types of demand. Companies want buildings that support recruitment, collaboration, wellbeing, transport access, sustainability reporting and employee experience. The office is increasingly being assessed as an operating platform rather than a collection of square metres.

That is why prime, fitted and sustainable buildings are outperforming secondary stock. It also explains the renewed interest in North Docklands and other submarkets where occupiers can secure modern space, larger floorplates and better amenities.

What office owners should review now

• Current and competing headline rents, incentives and effective rents.
• BER, LEED, BREEAM, NZEB and wider ESG credentials.
• End-of-trip facilities, cycle storage, showers and staff amenities.
• Floorplate efficiency, natural light, air quality and digital connectivity.
• Lease expiry profile, break options, covenant strength and reversionary potential.
• Whether refurbishment, subdivision, fitted space or alternative use could improve liquidity.

A recent Irish Times report on Two Grand Parade, where new tenants have brought the building close to full occupancy, is a useful example of how well-located, appropriately specified buildings can continue to attract occupiers even while the wider office market remains selective.

4. Hotel and operational property: income is central to the investment case

Hotels and hospitality assets featured prominently in the latest Irish commercial property round-up. The 229-room Premier Inn Dublin City Centre on Earl Place was reported for sale at a guide price of €66.6 million, while Dublin 4’s Schoolhouse Hotel was reported to be seeking €12 million.

These offerings underline the importance of operational performance, lease structure and income visibility. For investors, the appeal of a hotel is not limited to the building: it also includes the operator, brand, trading history, lease or management agreement, refurbishment requirements and the resilience of the location.

The wider lesson applies to retail, leisure and mixed-use property. Assets that can demonstrate strong trading, credible occupiers and a defensible location are more likely to attract buyers than properties relying solely on theoretical redevelopment potential.

These transactions were included in the 25 October property round-up, which also highlighted a proposed €20 million acquisition of the former Red Cow hotel and a number of Irish hospitality and mixed-use opportunities.

5. Retail and mixed-use: income quality matters more than headline size

Retail investment is continuing, but buyers are demanding greater clarity on income, tenant strength, lease length, catchment performance, accessibility and future capital expenditure. A large floor area does not automatically produce a strong investment case; investors want evidence that the asset can defend its rental income through changing consumer patterns.

Neighbourhood centres, retail parks and mixed-use properties can still perform well when they serve essential or convenience-led needs, have a strong local catchment and offer realistic rental values. Properties with vacant upper floors, underused yards or redevelopment potential may also appeal, but only where planning, cost and delivery risk can be properly assessed.

For owners considering a sale, the most useful preparation is often a detailed income audit: confirm the rent roll, identify upcoming lease events, document tenant covenants, quantify service-charge recoveries, review arrears and prepare a clear schedule of potential improvements.

6. Yields and pricing: buyers are underwriting carefully

Colliers’ Q3 report placed prime Irish yields at approximately 4.75% for PRS, 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.

These are market indicators rather than valuations for individual assets. The appropriate yield for a Dublin property will depend on lease terms, covenant strength, building quality, location, vacancy, capital expenditure and purchaser demand at the date of sale.

7. The sustainability premium is becoming an occupational requirement

The SCSI Mid-Year Commercial Property Market Monitor reported that three out of four respondents believed occupiers were willing to pay a premium for buildings with strong ESG and workplace credentials. The report forecast average increases over the following 12 months for prime office rents and capital values, with more measured growth for industrial, logistics and retail assets.

For Dublin landlords, sustainability is no longer merely a marketing paragraph. It can influence leasing velocity, tenant retention, financing, valuation and exit liquidity. A building with poor energy performance may face higher operating costs and a smaller pool of occupiers. A building with a clear improvement plan can create a more positive investment narrative.

Practical sustainability actions

• Commission an up-to-date energy and building-condition review.
• Identify the highest-return improvements to lighting, heating, insulation and controls.
• Document energy consumption and service-charge trends.
• Improve cycle facilities, showers, landscaping and staff amenities where appropriate.
• Prepare a concise ESG information pack for occupiers and purchasers.
• Separate immediate improvements from longer-term capital projects.

Our view from Dublin

At Casey Kennedy Estate Agents, we see a market where timing and preparation are increasingly important. There is a meaningful difference between putting a property on the market and preparing it for the market.

For sellers, that means establishing the right pricing strategy, understanding the likely purchaser universe, presenting the asset professionally, anticipating technical questions and controlling the sales process from initial advice through completion. For landlords, it means protecting income, reducing avoidable vacancy, handling rent reviews carefully and making targeted improvements that support long-term value.

For investors, the opportunity is not limited to fully stabilised prime property. There are also opportunities in assets requiring leasing, refurbishment, re-gearing, subdivision or repositioning. The essential requirement is disciplined underwriting: the business plan must be realistic, the cost assumptions robust and the exit strategy credible.

What sellers and investors should do next

1. Obtain a current valuation: use recent comparable evidence, income analysis and purchaser feedback rather than historic expectations alone.
2. Review the income: verify leases, rents, breaks, reviews, arrears, service charges and tenant covenants.
3. Assess the building: review BER, ESG, condition, compliance, accessibility and planned capital expenditure.
4. Define the likely buyer: domestic private investor, institution, family office, owner-occupier, developer or international capital may each value the same property differently.
5. Build the information pack early: accurate documentation can shorten due diligence and improve buyer confidence.
6. Choose the right route to market: private treaty, structured tender, investment campaign or discreet off-market approach may each be appropriate in different circumstances.

Work with Casey Kennedy

Casey Kennedy Estate Agents is a Dublin-based commercial property practice established in Stillorgan in 1985 and now expanding across Dublin and the commuter belt. Our team provides advice on commercial sales, lettings, 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 centre, northside and southside, supported by our flagship office at 149 Leeson Street Upper, Dublin 4, D04 VX52.

Whether you are considering the sale of an office, retail unit, industrial property, investment, mixed-use asset or development opportunity, we can help you assess value, prepare the property, identify the right market and manage the process professionally. We also advise investors and landlords seeking acquisitions, leasing support, rent reviews, management and long-term asset strategies.

Thinking of selling, letting or acquiring commercial property in Dublin? Contact Casey Kennedy for a confidential discussion about your property, objectives and next steps.

Sources and methodology

This review was prepared on 31 October 2026 using publicly available Irish news coverage, property reporting and market research. The review period is 24–31 October 2026. Some of the most useful market statistics available during the week were published Q3 2026 reports, so they are included as current context rather than presented as news first published within the seven-day window. Figures may differ between research houses because of differences in methodology, transaction coverage and sector definitions.

• Colliers Q3 report
• Colliers Dublin offices
• CBRE Dublin offices
• Business Plus logistics report
• RTÉ investment coverage
• SCSI market monitor
• Irish property round-up