The strongest performing office assets are not always the newest. They are the assets that continue to evolve alongside occupier expectations.
Dublin’s office market is entering a different phase. Demand is strengthening, vacancies are falling and the development pipeline is becoming increasingly constrained.
Knight Frank’s latest Dublin Office Market report recorded almost 960,000 sq ft of take-up in the first half of 2026, with a further 1 million sq ft reserved at the end of Q2. Vacancy fell from 13.7% to 13% during the quarter, while total take-up is forecast to reach between 2.2 million and 2.4 million sq ft by year-end.
At the same time, new supply is limited. Some 77% of office space under construction and due to complete by the end of 2026 is already pre-let, with just 126,000 sq ft of speculative space due to be delivered across the remaining schemes this year.
For landlords and asset managers, this creates an opportunity within existing office stock.
As occupiers become increasingly selective, strategic investment in workplace amenities, arrival experiences and shared facilities can help existing buildings remain competitive without the need for wholesale redevelopment.
Over the past year, the Building Consultancy & Design Team at Knight Frank has partnered with landlords and asset managers to reposition existing office assets, with a focus on occupier experience, tenant retention, leasing performance and long-term asset value.
Here are some examples of our work.
The Hub, Kildare Innovation Campus
Design and project management of a new flex office environment supporting the growing demand for agile workspace solutions. The project has enhanced the overall campus offering, creating greater flexibility, encouraging occupier growth and strengthening the attractiveness of the wider asset.
Across each project, our focus has been on creating measurable value through asset enhancement, occupier experience, amenity led investment, ESG aligned improvements and the successful repositioning of existing office stock.
Kilmore House, Spencer Dock
A reception refresh and new tenant gym designed to enhance the occupier experience and strengthen the building’s amenity offering. These improvements have contributed to the asset now achieving near full occupancy, demonstrating the value of targeted amenity investment in supporting leasing success and tenant retention.
76 Baggot Street
Refurbishment of the reception and tenant WC facilities, creating a more contemporary arrival and workplace experience while helping reposition the building within a competitive office market. The improvements have generated renewed interest in available floor space and strengthened the asset’s appeal to prospective occupiers.
The Harcourt Building
A comprehensive repositioning project is focused on enhancing the arrival experience, improving tenant appeal and reinforcing the long-term competitiveness of the asset within the Dublin office market.
The project demonstrates the opportunity to look beyond individual refurbishment works and consider how an existing building can be repositioned for its next phase.
Making existing assets work harder
Across each project, the approach is different, but the objective is consistent: creating measurable value through asset enhancement, occupier experience, amenity-led investment, ESG-aligned improvements and the successful repositioning of existing office stock.
With demand strengthening and the development pipeline increasingly constrained, existing buildings have an opportunity to capture occupier demand but they need to meet the expectations of today’s market.
For landlords and asset managers, the question is increasingly not whether an asset is new, but whether it is still competitive.
Knight Frank Building Consultancy & Design Services
Building Consultancy • Workplace Strategy • Interior Architecture & Design • Office Refurbishment & Fit Out • Project Management • Asset Repositioning & Enhancement • Amenity Strategy • ESG Focused Workplace Improvements
To discuss how strategic investment can unlock value within your asset, please get in touch with the Knight Frank Building Consultancy & Design Team on +353 1 634 2466.