Savills reports that it has let 15 industrial properties in Dublin between July and September totalling more than 19,000 sq.m. This accounts for almost 50% of the entire take-up of industrial space in Dublin for this period.

Three of the more notable properties let by Savills include: Unit 1 Stadium Business Park, Ballycoolin, Dublin 11, a 7,271 sq.m detached facility which was let to GLS in September on a four years and nine month lease for €391,000 p/a; Unit 11 Broomhill Road, Tallaght, Dublin 24, a 2,885 sq.m hi-bay facility let in July to AGI Media on a four year lease for €164,000 p/a; and Unit 630 Northwest Business Park, Ballycoolin, Dublin 15, a new 2,560 sq.m facility let in July to UTI on a ten year lease for €190,000 p/a.

"The demand for prime property in what will be the extended EU quarter remains resilient and the interest in this property points to optimism that the occupational market will improve in the next couple of years." Says Roland O'Connell of Savills Ireland.

According to Savills research, the overall take-up of industrial space in the Greater Dublin Area in Quarter 3 2010 was approx. 40,000 sq.m. This is almost double the amount recorded in Quarter 2 2010 and is significantly higher than the 24,000 sq m taken-up for the same period in 2009. Over half the take-up was recorded in the southwest region, Dublin's prime industrial hub, with another 25% of the take-up recorded in the northwest region.

According to David O'Malley of Savills, "We are delighted with the large number of transactions we have completed on behalf of our clients in what is usually the quietest time of the year. It is a clear indication of the willingness of occupiers to rent good quality stock at reasonable levels. The above deals also reflect the dominance of letting transactions in the industrial sector as many occupiers are unable to secure finance and those with cash are opting to keep it within the business to alleviate cash-flow difficulties." O'Malley adds "Despite the difficulties in securing finance, we have seen some evidence of sales creeping into the industrial market and we are currently progressing a number of industrial sales."