Domestic economy driving industrial space

A recovering domestic economy is driving strong growth for industrial space as investors turn their focus to logistics and distribution space.

According to Savills Ireland, take-up of industrial space in Dublin is starting to pick up, with over 220,000 sq m passing hands so far this year — more than twice the mid-year figure of 2014 and already 17% ahead of last year as a whole.

A key contributor to this growth is recovering consumer demand which is increasingly driving a need for industrial space in place of manufacturing which traditionally performed this role.