Commercial rents have stabilised in Dublin, insist CBRE

Commercial rents have stabilised in Dublin, insist CBRE

Grafton Street remains the most expensive street in the capital

New research from estate agents CBRE has found that commercial rates in the capital are now stable at about half their peak and 30% below the average over the past 10 years.

The new ‘Market View’ report from CBRE shows that prime retail rents in the capital can be had for about €5,000 per square metre. That compares with €10,000 a metre between 2006 and 2008.

Despite the fall, rents are still ahead of the €4,000 a square metre that they were at in 2002.

According to the report, Grafton Street remains the most expensive street in Dublin, followed by Henry Street, where space costs €4,250 per square metre.

Despite the number of retailers that have closed their doors in the capital in recent months, the occupancy rate remains low, according to CBRE.

The ground-floor vacancy rate now stands at less than 1% in Dublin, compared with almost 6% in 2010.

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