Dublin CBD Office Leasing Activity Rises 27% as Demand Focuses on Traditional Core
New Cushman & Wakefield research shows occupiers continued to prioritise premium offices around St Stephen’s Green and Harcourt Street, with average relocation distances of just 1.1km.
3 July 2026 | editor@irishrealestate.news
Office leasing activity across Dublin’s central business district (CBD) strengthened significantly during 2025, with occupiers continuing to favour high-quality office space in the city’s traditional core, according to new research from Cushman & Wakefield.
The firm’s Dublin Moves report found that 125 office transactions were completed across Dublin’s CBD during 2025, representing a 27% increase on the 98 deals recorded in 2024. Total office take-up reached approximately 167,000 sq m (1.8 million sq ft), compared with around 129,600 sq m in the previous year.
The report highlights that demand remained heavily concentrated in Dublin’s traditional core office market, centred on St Stephen’s Green, Harcourt Street and Merrion Square. This submarket accounted for 51% of all transactions completed during the year and 65% of the total floor space leased.
Average lease sizes also edged higher, reaching 14,370 sq ft during 2025, an increase of 1% year-on-year. However, the market continued to be supported by smaller occupiers, with almost one-quarter of all office space leased relating to requirements of less than 10,000 sq ft.
The analysis suggests occupiers are increasingly choosing to upgrade accommodation while remaining close to existing business ecosystems. Companies relocating offices moved an average distance of just 1.1km during 2025, while more than half of organisations entering Dublin’s CBD relocated from suburban office locations.
The largest office relocation of the year was completed by Workday, which moved from Dockline and the King’s Building in Smithfield to College Square in Dublin’s traditional core. The transaction totalled approximately 38,700 sq m (416,000 sq ft), making it the largest office move recorded during the year.
Other notable relocations included Intertrust’s move to The Sidings, leasing approximately 2,000 sq m (21,580 sq ft), while PartnerRe secured approximately 1,800 sq m (19,200 sq ft) at the Exchange Building in the North Docks.
The report also found that many occupiers choosing to relocate remained within their existing office districts. Businesses staying within the same submarket were overwhelmingly concentrated in the traditional core, which accounted for almost two-thirds of both the number of relocations and total floor space leased by these occupiers.
Several major occupiers expanded within this core area during the year. Maples agreed a lease for approximately 6,900 sq m at 75 St Stephen’s Green, EY secured an additional 5,100 sq m at Wilton Plaza, while Marsh McLennan leased around 4,500 sq m on Lower Baggot Street.
The findings point to continued demand for centrally located, high-quality office accommodation despite ongoing changes in workplace practices. Rather than moving significant distances or decentralising, many occupiers appear to be prioritising upgraded buildings while retaining access to established talent pools, client networks and city-centre amenities.
For investors and developers, the report reinforces the resilience of Dublin’s prime office market, with the traditional core continuing to attract the largest occupiers and the majority of leasing activity despite wider shifts in office demand across European markets.
