Postcode Power – Office Locations Back in the Spotlight

In our experience, when the office market swings back in
favour of the occupier it tends to be at the end or beginning
of a cycle.

Right now, supply is plentiful which means more choice on
where one can locate their new office. Occupiers have time
to fully consider the traditional merits of a specific location
ranging from the basics like nearby amenities, access to public
transport and safety for staff to more detailed considerations
such as on-street parking for clients, proximity to Dublin Bike
Stands and walking/driving distances to various points within
the City.

When a market is ‘hot’ occupiers face competition and there
can be a blurring of the lines when it comes to what is defined
as a prime or CBD location and what would be considered
a ‘Fringe’ or peripheral city centre location. One could be
forgiven from thinking (from some of the blurb out there)
that a Prime Dublin Office location could stretch anywhere
from the North Docks in Dublin 1 to the leafy edges of Dublin
4 and along the Grand Canal to Dublin 8.

In the current market, occupiers are placing more significance on the
location of their offices and once
again postcodes are being properly analysed on their merits.
Prime is Prime/CBD is CBD/Fringe is Fringe. They will not all
command the same rents as they reflect different demand
dynamics from occupiers.

In weaker markets, occupier demand tends to focus on the
CBD area with rents for the various types of offices therein
likely to come under less pressure than fringe city centre
locations where demand is limited.

Occupiers are not foolish people – they know the benefits/
challenges presented by various postcodes and will make
decisions accordingly.