DUBLIN LETTINGS reached 658,469 sq ft across 26 transactions, JLL says, up about 26% on the first quarter and 5% higher than a year earlier. Colliers recorded take-up of about 621,000 sq ft, up 44% on the first quarter and 3% year on year, and above the five-year Q2 average of 518,000 sq ft.

Activity was concentrated in the south and west of the city. Dublin South-West was the busiest submarket, accounting for 47% of take-up according to Colliers and 48% according to JLL. Dublin North-West followed closely on 46% and 47% respectively.

According to Colliers, the largest deal was the letting of about 139,000 sq ft at Mountpark, Grange Castle West, to CEL Critical Power. Other transactions included an 88,600 sq ft sublease to Allegro at Greenogue Business Park and lettings at Northwest Logistics Park and Huntstown Business Park.

Rents were stable. Colliers puts prime rents at €14.50 per sq ft for best-in-class space, while JLL says larger prime units let at €13.00 to €14.00 and secondary stock at about €12.50. Vacancy is about 4% according to Colliers and 3.5% to 4% according to JLL.

Supply remains tight. Colliers expects about 750,000 sq ft of new logistics space to complete in the second half of 2026, while JLL reports a further 1.06 million sq ft reserved, under offer or in legal review, at the end of the quarter. It says this points to continued conversion of demand into completed deals.

Investors also returned. Colliers reports €513m invested in industrial and logistics across four transactions, the highest quarterly volume since late 2021 and 51% of all Irish investment activity.

The largest was the €500m purchase of Horizon Logistics Park, next to Dublin Airport, by a joint venture between GIC and Valor Real Estate Partners. The 1.8m sq ft park is among the biggest single-property deals ever completed in Ireland. Colliers says prime yields tightened from 5.00% to 4.75% over the quarter.

Tomorrow’s Warehouse to launch in Dublin

The successful Tomorrow’s Warehouse Event, established for five years in Coventry in Manchester, will launch in Dublin in 2027.

The event takes place on February 25 at Dixon Transport, just north of Dublin by the airport.

Tomorrow’s Warehouse Dublin will offer the usual networking and learning opportunities to warehousing and logistics professionals in Ireland, as well as an exciting tour of Dixon’s newly expanded and highly automated warehouse, which is not to be missed,

Tomorrow’s Warehouse is delighted to announce that Vineta Bajaj, Group Chief Financial Officer at Holland & Barrett will make the keynote address at the inaugural event.

Registration for the event will open in December.

If you are interested in speaking at the event, reach out to Tomorrow’s Warehouse conference producer Simon Duddy – [email protected]