Offices for €10 per sq. ft.? Serious savings when you #MakeItMeath

Jackie Maguire, CE, Meath County Council, 10th March 2017

Massive

We’ve all heard the phrase that rent is ‘dead money’. When you’re renting office space it’s only because you must. It’s part of running a business. But writing the rent cheque can create a very, very empty feeling in the pit of your stomach. This is money that’s never coming back to your business so your challenge is to keep that rent cost as low as possible. That’s where County Meath can make a massive difference.

€65 sq. ft.? No thanks.

The primest of prime office space in Dublin City centre can cost up to €65 per sq. ft. What you get for that is a lot of access issues both for staff and clients. And a massive annual rental bill. Due to the recovery, a lot of central Dublin’s prime office space has been leased and as happens interest in office space has moved to the outer suburbs of the capital.

€39.50 sq. ft.? No thanks.

According to newspaper reports this week @CBRE and @Colliers are marketing offices in Dublin’s south suburbs, on the wrong side of town for airport access, for €39.50 per sq. ft. This rent is a whopping 72% rise in cost for similar offices rented in July 2015. Ouch!

€10 sq. ft.? Yes please.

Here in Meath, on what I’ll call the right side of the airport, things are very, very different. I asked a local auctioneer about local prices and he said that office space could cost between €10-€14 per sq. ft. to include parking. The greater demand at present is for smaller units for mid-sized firms so ironically the larger office spaces are being offered at the lower rental level. And remember you’re probably only half an hour from an international airport and just a little more to the main seaport.

Meath is value

So, you’re a US firm that wants to have a beachhead into the EU. Wisely you look at locating in Ireland. You have a look at those offices in South Dublin. Then you pick up the phone to the Meath County Council Economic Development Team. They bring you around to office locations across Meath. The price? 10,000 sq. ft. Dublin – €395,000. Same space in Meath? €100,000, saving your company a ton of money.  Value. Another reason to #MakeItMeath