Dublin's serviced office market grew by 50% in 2018

Microsoft's office in Dublin.

Last year saw Dublin's serviced office market increase by 50% (8,000 additional desks) in 2018, according to research carried out by Click Offices.

The term ‘serviced workspace’ refers to office space provided under a short-term licence agreement.

The agreement is flexible and all utilities such as electricity and heating are included in one flat monthly payment.

Click Offices broker Shane Duffy said:

The increased appetite for flexible workspace is not surprising when you look ath the way we work today.

"Companies want short term, fluid agreements which allow them to upscale or relocate rapidly.

"That's why we're seeing large multinationals such as Facebook and Microsoft opting for flexible workspace in the city.

"It's no longer just start-ups or SMEs (small and medium-sized enterprises) that are looking for this option."

The serviced office market includes Irish workspace providers Iconic Offices, Pembroke Hall and Glandore, as well as international companies WeWork and Regus who are the top five leaders in Dublin.

WeWork have the most number of desks with 4,700, followed by Regus with 3,200 and Iconic Offices with 3,000.

The market is expected to grow further this year, with 6,500 new desks, equating to 325,000 square feet, already announced.

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