The total number of vacant commercial premises in Clare has increased from 11.2% in Q1 2013 to 12.2% in Q1 2014, according to the latest data published by GeoDirectory this Monday. For the first time, the report includes an analysis of the commercial vacancy rates of a selection of Ireland’s main shopping centres and high streets in Dublin, Cork, Galway, Kilkenny and Limerick.
In Clare, 863 of the 7,062 commercial addresses recorded in Q1 2014 were vacant. This is a commercial vacancy rate of 12.2%. This figure relates to premises in Ennis and all over the count.
According to the latest edition of GeoView which is published quarterly, there are 223,336 commercial address points across the country, of which, 27,791 were classified as vacant. The national commercial vacancy rate in Q1 2014 is unchanged from the 12.4% reported in Q4 2013.
Thirteen counties; Sligo, Leitrim, Galway, Dublin, Limerick, Roscommon, Waterford, Carlow, Donegal, Mayo, Laois, Longford and Offaly recorded commercial vacancy rates above the national average of 12.4%. Sligo (16%), Leitrim (15.3%) and Galway (14.6%) recorded the three highest commercial vacancy rates. In contrast three counties; Kerry, Westmeath and Wexford recorded the lowest commercial rate across the country of less than 10%.
As expected, Dublin (21.9% or 48,962 address points) had the highest number of unique commercial address points. This is followed by Cork (11.7% or 26,070 address points) and Galway (5.7% or 12,783 address points).
Of the 27,791 vacant commercial address points Dublin had the highest share of 24.4% while Cork had the second highest share of 10.7%. Leitrim and Longford had the lowest share of vacant commercial address points at 1.1% each. Nationwide, the highest commercial vacancy rate was 16% recorded in Sligo.
The report uses an “address point” as a unit as opposed to a “building”, which can comprise one or more units.