Shortage of prime offices in Dublin, say US firms

US companies were behind almost 40% of offices bought or leased in Dublin in 2011 and the trend is likely to accelerate this year, according to estate agents.

While up to 20% of Dublin’s office space is vacant, this stock is either of the wrong size or nature, or is located in the wrong parts of the capital for the US companies seeking extra space.

Internet companies such as Google and Yelp are looking for more space in Dublin, as are Salesforce.com, Bank of New York Mellon and Citigroup, say industry sources. Facebook is seeking to more than double the size of its European headquarters in Dublin, while PayPal is to hire 1,000 people to work in Dundalk, Co Louth.