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U.S. technology giant Workday is looking to sublease 140K SF of its new Dublin headquarters at College Square, The Irish Times reported.
The space put back to the market is equivalent to approximately one-third of the 416K SF it committed to take at the development in April 2025 for its new European headquarters. It comprises three floors of approximately 47K SF each, all for immediate occupation.
They have been made available individually or together, with flexible lease terms being offered.
The company instructed adviser Cushman & Wakefield to market the space.
Developed by Marlet Property Group and M&G Investments on the former Apollo House and College House sites, the 22-storey College Square consists of 540K SF of LEED Platinum office accommodation and 17K SF of retail space, alongside 58 apartments.
The 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 544K SF, bringing the total for the first nine months of 2026 to almost 1.5M SF, according to Knight Frank's latest Dublin Office Market report. The agency has upgraded its full-year takeup forecast to 2.5M SF-2.6M SF from an earlier estimate of 2.2M SF-2.4M SF, putting activity on a par with 2025 and the 10-year average.
Technology, media and telecoms companies accounted for 44% of Q3 leasing, with artificial intelligence businesses OpenAI and Klaviyo among the largest occupiers. OpenAI took 88K SF at Tropical Fruit Warehouse in Dublin 2, while Klaviyo leased 57K SF at One Le Pole Square in Dublin 8.
And the supply outlook is becoming increasingly challenging. Dublin's overall office vacancy rate fell to 12.7% in Q3, down from 13.7% at the start of the year, while prime rents remained at €65 to €67.50 per SF — though Knight Frank expects prime rents to reach €70 per SF by the end of 2026, with pre-let rents potentially reaching €75 per SF.
Seventy-two percent of new space already delivered or due to be delivered by 2027 is pre-let, according to Knight Frank.
“Adding space that is reserved, the amount taken increases to 78%. This makes the case for the commencement of new office development even more compelling,” Knight Frank Chief Economist and Research Director Joan Henry said in the report.
“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,” she added.
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