Last Week We Made The Case For Flex. This Week, The Numbers Back It Up.
4 August 2026 · Craig Maguire, MR Commercial Real Estate
Last week I made the case that flex sidesteps the risk of locking into a record traditional rent. That argument works on paper. This week I want to show it also works in practice, because the occupancy data says businesses are already acting on it.
CBRE Ireland's latest Dublin Flexible Office Market report puts flex space at 3.2% of total Dublin office stock, up from 2.5% previously, the fastest jump the sector has recorded. Prime grade flex buildings are now running at roughly 90% occupancy.
WeWork's One Central Plaza in Temple Bar is a good example of what that looks like on the ground. The building opened in 2024 at around 50% occupancy, 73,000 square feet across eight floors. CBRE now reports it fully occupied, with a waiting list. That is not a forecast or a talking point. That is businesses queuing for space that already exists.
There is still real room to run. London's flex penetration sits close to 12% of office stock. Dublin is at 3.2%. Landlords are responding to that gap already, with revenue share deals and management agreements becoming more common, and super prime flex rents now reaching up to €200 per square foot in the strongest buildings.
Put the two posts together and the picture is simple. Traditional rents just hit a record, and flex is the way a growing number of businesses are choosing to sidestep that number. The buildings with real demand behind them are filling first. Waiting until the pressure shows up in your own search is the expensive way to find that out.
Weighing up flex or serviced space for your team? Get in touch at craig@mrcommercial.ie or +353 1 963 6199, or visit www.mrcommercial.ie.