Demand for office space in Dublin is increasing, despite some employees adopting a hybrid work model.

That’s according to the CEO of DublinTown, Richard Guiney.

He was speaking as new Government research suggests employees could save 93 hours per year, on average, if they gave up commuting and worked from home full-time.

The study finds if employees were to work from home, they could save an extra €1,103 annually.

It also notes that remote working could save the State around €7.6m each year by removing over 164,000 tonnes of Co2.

But Richard Guiney told The Hard Shoulder it seems companies are not ready to shut the office door.

“One of the things that I think is interesting is that we’re not hearing that people are handing back leases on office space.

“That would suggest that they believe that they’re going to fill those spaces.

“They may give more allocation per employee, and I know there’s a lot of investment in making the workplace a friendly environment.

“But people aren’t handing back leases… what we’re picking up is actually there’s more demand for office space in Dublin than there was previously.

“There’s a very good pipeline in terms of interest, in terms of renting office space”.

‘40% capacity’

He says generally speaking, office occupancy in the capital is back at around 40%.

“What we’re picking up from office managers is that we’re probably in and around 40% occupancy compared to 2019.

“That’s anecdotal, but it’s that kind of broad level that we’re at.”

And he believes while the Monday to Friday in-office model is gone, something should be found in-between.

“What we’re picking up from a number of office managers is that they would like their folks back – albeit on a hybrid basis.

“Training staff is a huge issue, recruiting – particularly with younger employees who need a bit of hand-holding – that is definitely an issue.

“Some of that is missing, and that’s something we do pick up from employers.

“They are kind of keen to have people back; maybe not five days a week, but two, three days a week.”

He adds that that decision will come down to two things: productivity and interaction.

Main image: Composite image shows offices in Dublin. Picture by: Bernard O’Kane/Dennis Gilbert-VIEW/ Alamy Stock Photo