County Kilkenny commercial vacancy rate at 10.5% well below average

Kilkenny has a commercial vacancy rate of 10.5% according to the second GeoView Quarterly Commercial Premises Vacancy Rates Report published jointly by GeoDirectory and DKM Economic Consultants.

Kilkenny has a commercial vacancy rate of 10.5% according to the second GeoView Quarterly Commercial Premises Vacancy Rates Report published jointly by GeoDirectory and DKM Economic Consultants.

The report tracks vacancy rates nationally and by county. In this issue it examined rates in five major Irish cities: Dublin, Cork, Galway, Limerick and Waterford. The Q2 figures indicate an average vacancy rate for commercial units nationally of 11.9% (accurate as of May 2013).

223,433 commercial units were identified by GeoDirectory in the Republic of Ireland. The highest number of commercial units was recorded in Dublin (49,029 address points or 21.9%) followed by Cork (26,191 or 11.7%) and Galway (12,692 or 5.7%).

14 counties; Sligo, Galway, Leitrim, Dublin, Carlow, Limerick, Donegal, Laois, Longford, Mayo, Offaly, Roscommon, Waterford and Kildare recorded commercial vacancy rates above the national average of 11.9%. Sligo (15.2%), Galway (13.8%) and Leitrim (13.8%) recorded the three highest commercial vacancy rates.

In contrast four counties; Kerry, Meath, Westmeath and Wexford recorded the lowest commercial rate across the country, at between 9 and 10%.

The report undertook a detailed analysis of five major Irish cities and counties; Dublin, Cork, Galway, Limerick and Waterford.

All five cities have a higher vacancy rate than the national average vacancy rate. Limerick City has the highest vacancy rate among the cities studied at 17.2%, followed by Galway at 15.8%. Cork city has the lowest commercial vacancy rate of 13%. The report found that Dublin City has more commercial premises than the cities of Cork, Galway, Limerick and Waterford combined. The report uses an ‘address point’ as a unit as opposed to a ‘building’ which comprise one or more units.