Making Great Working Places in Dublin James Nugent
European Cities Monitor Essential factors for locating a business Easy access to markets, customers or clients
Dublin ranking 28
Availability of qualified staff
30
The quality of telecommunications
25
Transport links with other cities and internationally
25
Value for money of office space
15
Cost of staff
14
Availability of office space
7
Languages spoken
16
Ease of travelling around within the city
26
The climate governments create for business through tax policies or financial incentives
Source: Cushman & Wakefield / Lisney
1
Global Competitiveness Index Competitiveness Pillar
Ireland’s ranking
Institutions
23
Infrastructure
29
Macroeconomic environment
118
Health & primary education
12
Higher education & training
22
Goods market efficiency
13
Labour market efficiency
17
Financial market development
115
Technological readiness
17
Market size
56
Business sophistication
22
Innovation
23
Source: World Economic Forum
Office Take-Up Q1 – Q3 2012 By Sector
By Grade 6%
16% 6%
5%
2%
26%
12% 7%
42%
53%
25%
Professional Services
Financial
State
IT
Pharmaceutical/ Health/life sciences
Media
Education
Other
Source: Lisney Research
Grade A
Grade B
Grade C
Office Take-Up Q1 – Q3 2012 By Size & No. of Transactions sqm 25,000
20,000
15,000
10,000
5,000
0
74
30
12
6
3
1
0
1499
500999
1,0001,999
2,0002,999
3,0003,999
4,0004,999
5,000+
Source: Lisney Research
Dublin Office Take-Up 2011 Origin of Occupier
Dublin Office Vacancy Rates 2012 Vacancy Rate (%) 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% City Centre
North Suburbs Q1
South Suburbs Q2
West Suburbs
Dublin Overall Q3
Dublin Available Office Space sqm 800,000 750,000 700,000 650,000 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 -
Availability
Take-Up
Dublin City Centre Availability > 90,000 sq ft 2
6
1
7
5 4 8. Park Place, D2 16,580 sqm
8
1. Kings Building, D7 16,631 sqm
3
7. Cumberland House, D2 8,859 sqm
2. The Beckett, D3 16,631 sqm
3. 1 Burlington Plaza, D4 12,000 sqm
4. 5 Grand Canal Sq, D2 11,200 sqm
5. Point Village, D1 8,860 sqm
6. International House, D1 9,400 sqm
Rents Annual % Change 0.45
0.35
Rent € psm 800
City Centre (D 2/4 Prime)
€307 (€28.50 psf)
400
City Centre (D 2/4 Secondary)
€178 (16.50 psf)
200
Suburban (Prime)
600
0.25
0.15
0.05
IFSC -
-0.05 -200 -0.15
-0.25
-0.35
Source: Lisney Research
Rent € psm
-400
-600
€118 - €145 (€11 - €13.50 psf) €194 (€18 psf)
Large Corporate Occupiers • • • • • •
Size requirements Options IDA viewpoint Experience Clusters Personal safety / onstreet activity
Building Design Faรงade
Lobbies / Reception
Toilets
Building Design Pillars
Occupier Viewpoint Building Facilities
Building Specification
Occupier Viewpoint Green Agenda • Green agenda is not affecting the property choices of 75% of occupiers. • 60% of occupiers would not spend more on buildings with green features. • 60% of occupiers would not consider retro-fitting their office space to make it more energy efficient.
Locational Factors
The Future • • • •
Get planning Economic v commercial deals Dangers of losing expertise Opportunities