U.S. technology giant Workday is looking to sublease 140,000 square feet of its new Dublin headquarters at College Square, according to The Irish Times. This space represents about one-third of the 416,000 square feet it originally committed to in April 2025 for its European headquarters, located on the former Apollo House and College House sites.
The available space includes three floors, each approximately 47,000 square feet, ready for immediate occupancy. Cushman & Wakefield has been tasked with marketing the space, which can be leased individually or together with flexible terms, reflecting Workday’s adaptability in a dynamic market.
Developed by Marlet Property Group and M&G Investments, the 22-story College Square offers 540,000 square feet of LEED Platinum office space, 17,000 square feet of retail, and 58 apartments, blending sustainability with mixed-use functionality.
This unexpected availability comes against a backdrop of improving office demand in Dublin and a potential space availability crunch last year. Office takeup in Q3 was 544,000 square feet, bringing the total for the first nine months of 2026 to almost 1.5 million square feet, according to Knight Frank’s latest Dublin Office Market report.
The firm has raised its full-year takeup forecast to 2.5–2.6 million square feet, up from 2.2–2.4 million square feet, aligning with 2025 levels and the 10-year average, signaling a robust recovery in Dublin’s office sector.
Technology, media, and telecoms firms drove 44% of third-quarter leasing, with notable deals including OpenAI taking 88,000 square feet at Tropical Fruit Warehouse in Dublin 2 and Klaviyo leasing 57,000 square feet at One Le Pole Square in Dublin 8, highlighting the tech sector’s continued expansion.
Dublin’s office vacancy rate dropped to 12.7% in the third quarter, down from 13.7% at the start of the year. Prime rents held steady at €65–€67.50 per square foot, though Knight Frank predicts they could reach €70 by year-end, with pre-let rents potentially hitting €75, reflecting growing demand and tightening supply.
And the supply outlook is becoming increasingly challenging. Including reserved space, this figure rises to 78%, according to Knight Frank.
Knight Frank Chief Economist Joan Henry emphasized, “Developers or investors who take on the challenge to commence new office developments will deliver into a market in 2028/2029 that needs new space to keep Ireland in its leading position as an attractive location for global business.”
