Limerick City has seen work begin or recommencement on a number of projects in recent days. Among them was demolition work for local developer Kirkland Investments at its mixed use site at Bishops Quay where it plans over 85,000 sq ft of office accommodation and residential development.
Ciara McCarthy of Cushman & Wakefield says office fit-out works have also re-commenced at Fine Grain’s Hawthorn House where Kneat will occupy over 12,000 sq ft.
A number of additional deals are in the legal process for space throughout the city and she is hopeful that these will be completed in the coming weeks.
“If these deals are finalised, the vacancy rate will continue to decrease over the coming quarters as companies take occupation,” she added.
Availability of both Grade A office space had fallen to near record low levels during the first quarter, according to the agency.
“It will be important for the office market to see new pipeline development commencing construction this year,” says Ms McCarthy.
At the end of the first quarter, no office space was under construction in Limerick.
