Industrial property take-up continues to rise

The market for industrial- and manufacturing-appropriate property is expected to show a significant recovery this year, particularly in Dublin, following the second consecutive quarter of a decline in vacancy rates.

According to leading property agent Savills, the second three months of 2013 marked only the fourth quarter in which the vacancy rate for industrial units in Dublin has fallen since 2008, something which the company believes signals a marked upturn in the fortunes of this area of the property market.

A Savills spokesperson added that the last three months have seen the highest proportion of sales transactions since 2008, a sign that prospective buyers believe now is the right time to buy.