Hibernia REIT has reported a record year of letting activity in the Dublin office market in 2017. 

The company said that over 3.5 million square feet of space was let as a number of large transactions were agreed.

In a trading update today, Hibernia REIT said that office vacancy at the end of December 2017 stood at 3% for Grade A space in Dublin 2 and 4 and 6% for Dublin overall.

A further 1.2 million square feet of space was reserved across the city. 

It also noted that Prime Grade A headline rents in the city centre rose to €65 per square feet.

The company's deals during the quarter included the sale of the Chancery in December for €23.8m.

Hibernia this month exchanged contracts to sell Hanover Street East and 11a Lime Street, two small properties in the South Docks for €12m.

Earlier this month, it also agreed the purchase of 77 Sir John Rogerson's Quay in Dublin's South Docks for €28.7m while it agreed a simultaneous letting of the entire building to a subsidiary of International Workplace Group on a 25 year lease.

Hibernia said today that its developments at 1 Sir John Rogerson's Quay and 2WML (formerly the Hanover Building) are on track for completion in the third quarter and late 2018, respectively.

It said that talks continue with potential occupiers, while plans are also progressing for its development pipeline of five schemes.