Office occupier activity in Limerick described as 'quiet' this year

ONLY 1,700 square metres of office space across Limerick and Shannon was taken up in the first half of this year, a new study has revealed.

​Real estate firm Cushman and Wakefield has published its latest market beat report for regional cities across the country. And it has described occupier activity across Limerick and Shannon as being “quiet” up to June, with just four deals of note taking place.

It’s a measure it describes as "well below normal levels of activity.”

"The main deals included Irish speciality chemicals company Chemifloc taking approximately 700 square metres of space at Dromore House in Shannon, Broadline Recruitment Group leasing 420 square metres at Lower Cecil Street and Exertis which took approximately 350 square metres at the National Technology Park,” the report states.

Construction firm Sisk took a block at City East retail park, on the edge of Limerick.

It’s meant office availability across Limerick and Shannon has grown to its highest level since the end of 2022, at almost 12%.

"Availability is generally very evenly spread across Limerick city centre, its suburbs and the Shannon area, although it has increased notably in Shannon since the end of 2025,” the report stated.

Prime rents in Limerick and Shannon are stable at around €430-per-square metre, the analysis shows, with the expectation this will continue into the second half of 2026.

Regional office investment activity improved during 2026’s first half.

The largest of these involved the sale of Hawthorn House, near the National Technology Park, to French property investment firm Arkéa Reim.

Cork recorded around 13,400 square metres of office take-up during the first half of the year. Galway saw 5,300 square metres of office take-up recorded.

Patricia Staunton, regional director, Ireland at Cushman and Wakefield said: “While overall occupier activity moderated in the first half of 2026, demand for best-in-class office accommodation remains evident across Ireland’s regional markets. Occupiers continue to prioritise high-quality, centrally located buildings that support proximity to business networks, talent attraction and operational performance.”

Tom McCabe, the firm’s head of research and insights added: “The dominant theme across Ireland’s regional office markets remains the growing divergence between occupier demand for grade A office space and the limited development pipeline available to satisfy it.”