Office Space In Short Supply

Date Published: 26-Aug-2008

THE Planning Appeals Board have rejected plans for a large office development at the Fairgreen — dealing a further crippling blow to an already acute shortage in city centre office supply.

Research shows an occupancy rate of around 99% at the moment, while suburban areas are showing significant oversupply.

Developer Bernard McNamara had sought permission to double the amount of office space in his private coach station development at the corner of Forster Street, Fairgreen Road and Bothar Uí Eithir because of the huge demand for office space at the moment.

Last year, Mr McNamara told city planners that there is a severe shortage of office space in the city centre.

“The current market situation for modern office accommodation in the city centre has become acute, with demand outstripping supply to a significant extent. “The completed offices at the [adjoining] development (also owned by Mr McNamara) are fully let, and there are a number of outstanding requirements for office accommodation in the city centre that cannot be met,” the applications read.

He sought permission to change 48 previously approved two-bed apartments on the first, second and third floors to 4,550 square metres of office space. Mr McNamara has already let around 4,000 square metres of existing office space in the development.

His plans also involved adding…