County retail vacancy rates low

RETAIL vacancy rates in Clare are lower than the national average, a new survey has shown.
Figures released by Experian, a global information services company, showed that the vacancy rate in the county is 13.1%, compared to the national average of 14.7%.
Clare was at the lower end of the spectrum of retail vacancy levels, with Offaly topping the list at 27.1%.
Rita McInerney of Ennis Chamber said it was important to keep promoting the centre of the county town in order to avoid high vacancy rates.
“As a chamber, it has been our policy to support town centre developments, it’s key to keep business in the town centre. The figures for Clare could be a lot worse.
“A lot of areas have had out-of-town developments but we haven’t seen that to the same degree in Ennis.
“The fact that business has been kept in the town contributes to the fact that the vacancy rate isn’t above average.”
She said that while there have been some developments away from the town centre, they have been relatively close to it.
It’s predicted that the vacancy rate for the county will rise to 13.8% in the New Year, with increases expected in most counties.
Jonathan De Mello, director of retail and property at Experian, said that there are still opportunities for expansion in the current climate.
“Indications are that we will see a better Christmas this year, although we are unlikely to see a return to pre-recession expenditure levels for some time. At the same time, vacancy rates are expected to improve and return to a more sustainable level.
“Stand-alone shopping centres, with their greater potential for asset management, will perform better than town centres in this respect.
“From a retailer ­perspective, at least for those that are doing well, such as supermarkets and value retailers, it has never been a better time to expand in order to grab market share, given the wealth of lucrative property deals that are now available as a result of the increased number of vacant stores on Ireland’s high streets.”