"There was 448,400 sq ft taken in the opening quarter of 2026 across 18 deals, creating an average deal size of 24,900 sq ft. While the amount of space taken declined by 20% compared to Q1 2025, this was driven by a smaller average deal size, with the number of transactions increasing by 29%. Delivery of new stock carried momentum into the beginning of 2026 with 251,600 sq ft completing across 11 units. The average completion size of 22,900 sq ft was significantly below the five-year average of 94,200 sq ft, reflecting the delivery of a number of smaller light industrial units. The vacancy rate rose to 2.9% in Q1, up from 2.5% in the previous quarter and 2.3% in Q1 2025. Meanwhile, market activity has led us to review prime rents upwards by €0.25 psf to €14.25 psf while secondary rents remained stable at €11.50 psf. "

" Development land deals totalled €589m in 2025 across 83 deals, resulting in an average size of €7m. While the number of transactions fell by just 1% compared with 2024, the total value was down 21%. Although the market performance appears weak relative to previous years, the headline figure is masking an important factor; namely, that there has been a decline in the number of deals completing with planning approval in place. Since planning permission carries a premium, this explains why the value of deals dropped even though the overall number of transactions remained virtually the same. Dublin accounted for 56% of transaction values, which was below the five-year average of 70%. The Greater Dublin Area counties of Kildare, Louth, Meath and Wicklow accounted for 32% of the market share, while Cork made up 8%. "