While vacancy rates for commercial properties outside of Dublin remain “stubbornly high” with a significant portion of the vacant properties unused for over three years it has again been confirmed that Sligo tops the league.
Of the almost 212,000 commercial address in Ireland, more than 28,000 were vacant with 67.8 per cent of those empty for more than three years.
The GeoView report, backed by An Post and Ordnance Survey, highlights a continued imbalance between Dublin and the rest of the country with 15 counties registering higher vacancy rates than the national average in the last quarter of 2017.
Co Sligo, at 18.7 %, had the highest vacancy rate, up from 16.8% in 2016. See link below.
This is followed by Galway, at 16.2 %, Leitrim, with 15.6 %, Mayo with 15.3 % and Longford with 15.1 % of commercial properties vacant.
These figures show that the north West and the West are being hit the hardest with business closures.
Sligo Town has in recent months suffered further losses of high profile businesses including Tiger whose surprise closure at Christmas was a significant blow to Quayside Shopping Centre and compounded by the news from Sligo Today
this week that Next are to pull out of the centre in May. Closed businesses on John St, Sligo Town
The lowest vacancy rates in the country were recorded in Kerry, Meath and Wexford ranging from 10.5 % to 10.8 %.
“This report shows that while there are signs that the economic recovery is beginning to spread outside Dublin, there is still a stubbornly high commercial vacancy rate, particularly along the west coast of Ireland,” said Dara Keogh, GeoDirectory chief executive.
“Given that there is also a high proportion of long term vacant commercial buildings, there is significant scope to redevelop and put these properties to better use, particularly as discussion around the National Planning Framework continues,” he added.
The National Planning Framework initiative will be launched this Friday in Sligo. One of several vacant shops and businesses on Castle St in the heart of Sligo Town
Link: Sligo Today 12/7/2016