Dublin WeWork Location Boasts 50% Occupancy at Opening

WeWork opens its Dublin flagship location in the former Central Bank, catering to Dublin's booming demand for flexible office space.

Following WeWork’s announcement that it has finalized lease negotiations in the U.K. and Ireland, the company officially opened its flagship Dublin location.

Located in the former Dublin Central Bank, WeWork One Central Plaza spans eight floors and 73,000 square feet.

The company states that the new space accommodates 1,500 desks and offers a variety of workspaces designed to meet modern business needs.

“We’re thrilled to be opening our doors to the distinguished One Central Plaza in Dublin, a burgeoning business hub and a key market for us,” WeWork’s Chief Revenue Officer Ben Samuels said. “This opening marks a significant moment for WeWork as we enter a new phase for the company – putting our best foot forward with our strongest locations globally.”

WeWork boasts that it continues to be one of the largest flexible office space providers, “operating a system a system of approximately 45 million square feet in approximately 600 locations in 37 countries and 120 cities.”

Members at the Ireland location can enjoy a barista bar, a beer island, and the on-site community team. Additionally, the Central Bank complex features a rooftop restaurant offering 360° panoramic views of the city, which adds a touch of luxury.

This new location comes at a time when the demand for flexible workspaces in Dublin is surging.

According to a report published by the Irish Independent, CBRE data reveals the flexible office space sector is outpacing the performance of traditional office spaces. Property consultants cite that Dublin’s flex market has achieved strong take-up rates, competitive rents, and lower vacancy levels compared to the overall office market. Additionally, the professional services and technology sectors are said to be driving this high demand — accounting for 70% of the uptake in 2023.

WeWork reports the Irish capital saw a 51% increase in All Access bookings and a 296% increase in On Demand bookings per location year over year, as of April 2024.

The total footfall by occupied desk is also reported to have experienced a 26% rise. The Dublin facility is already “at 50% occupancy” at the time of opening.

The company also states it has successfully amended over 170 office leases and exited 160 locations, contributing to a projected $12 billion reduction in future rent costs globally.