Dublin offices just 10% full on Mondays and Fridays — survey

DUBLIN — Offices in Dublin are on average only 10% full on Mondays and Fridays as employees continue to adopt a hybrid working model a year after Ireland’s last COVID-19 lockdown, a survey of 500 companies in the capital showed.

Hybrid arrangements, where employees go in part of the week, are reshaping businesses that serve office workers across the world, with knock-on effects for commercial real estate demand and service firms reliant on city center footfall.

The Irish research published by property agency Savills and the Dublin Chamber commerce body on Wednesday suggested offices in the main business district have an average occupancy rate of 0%-10% on Mondays and Fridays.

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Occupancy rises to between 51%-60% on Tuesdays and Thursdays, and to 61%-70% on Wednesdays. Almost half of the firms surveyed said employees must spend at least two or three days in the office each week.

Despite the lower occupancy — which compared to a week-long rate of 91%-100% pre-pandemic — three quarters of the firms said they have not changed their office footprint, while 17% have decreased it and 7% added more space.

Separate research from real estate group CBRE on Tuesday showed that total office space bought or let last year was 2.5% below the 10-year annual average, leaving a vacancy rate of 11% or 14% including so-called “grey space,” where larger tenants are seeking to sublet parts of their offices. — Reuters

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The article was originally published in Business World.

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