Leitrim has second highest commercial vacancy rate

Claire McGovern

Reporter:

Claire McGovern

Leitrim has second highest commercial vacancy rate

Commercial vacancy rates in Leitrim have increased from 16.1% in Q4 2015 to 16.4% in Q4 2016.
This is above the national average which has increased, from 12.6% to 13.5% during the same time period, according to new research published by GeoDirectory. The GeoDirectory database shows there were 213,666 commercial address points in Ireland with 28,796 of those properties lying vacant. The data indicates a substantial unused commercial building stock not just across the country but also in Dublin.
An analysis of 101 locations, including 79 towns across the four provinces plus 22 Dublin districts, found that Edenderry, Co. Offaly had the highest vacancy rate (31%). Taking the 15 towns with the highest vacancy rates, these were predominantly located in the Midlands or West of Ireland, indicating the extent of underutilised commercial capacity outside the main urban centres.
The town of Ballina, Co. Mayo had the highest vacancy rate in Connacht, with a rate of 24.7%. Kilrush, Co. Clare had the highest vacancy rate in Munster at 24.2%.
The highest vacancy rate in Ulster was in Ballybofey Co. Donegal (28.8%), which recorded one of the highest vacancy rates in the country. Between Q4 2015 and Q4 2016, commercial vacancy rates in Carrick-on-Shannon decreased from 15% to 14.3%. One key finding from the analysis is that counties on the west coast of Ireland tended to perform less well than their eastern counterparts, with Sligo (18%), Leitrim (16.4%), Donegal, Mayo (15.6% each), Galway (15.4%) and Limerick (15.3%) having the six highest vacancy rates in the country.