Vacant premises in Kilkenny
Over 70% of Vacant Commercial Properties in Kilkenny have been vacant for over three years, a new survey has revealed.
The GeoDirectory Commercial Vacancy Report highlights that Kilkenny’s commercial vacancy rate was at 12.2% in Q4 of 2017 while 71.1% of Kilkenny’s vacant commercial addresses have been vacant for three years or longer.
Callan, at 17.8% is the town with the highest commercial vacancy rate in Kilkenny while Kilkenny City, at 14.5% is the area with the lowest commercial vacancy rate in Kilkenny.
Meanwhile the national commercial vacancy rate has fallen from 13.5% in Q4 2016 to 13.3% in Q4 2017.
Sligo had the highest commercial vacancy rate in the country at 18.7%, while Kerry recorded the lowest vacancy rate at 10.5%.
Kilkenny’s commercial vacancy rate of 12.2% represented an increase of 0.1 percentage points (pp) compared to the same period in 2016, according to the latest GeoDirectory Geoview Commercial Vacancy Report.
Dara Keogh, CEO of GeoDirectory, said: “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.
"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.”
Overall, the national commercial vacancy rate in Ireland dropped slightly from 13.5% in Q4 2016 to 13.3% in Q4 2017.
Commercial activity remains concentrated on the East coast of Ireland, with the Greater Dublin Area accounting for 33.2% of the overall national stock.
This is in stark contrast to Connacht and Ulster, with these provinces only accounting for 13.7% and 7.8% of the national stock respectively.
In Dublin, the commercial vacancy rate fell to 12.4%, a drop of 1.3pp compared to last year, with 16 of the 22 postal districts recording a vacancy rate below the national average of 13.3%.
Dublin 2, experienced a drop of 6.4pp, the most significant reduction in the city. Dublin 8, at 16.7%, has the highest commercial vacancy rate of all the Dublin postal districts.
Outside of the capital, there is evidence that the economic recovery is beginning to spread, albeit slowly, beyond the Greater Dublin Area.
Modest reductions were recorded in Leitrim (-0.8pp), Donegal (-0.5pp), Limerick (-0.3pp), Waterford (-0.3pp) and Mayo (-0.3pp).
Despite evidence of progress, the report highlights a continued imbalance between Dublin and the rest of the country, as commercial vacancy rates remain stubbornly high outside the capital.
In total, GeoDirectory data shows that 15 counties registered vacancy rates higher than the national average in Q4 2017, unchanged from twelve months ago. Sligo, at 18.7%, was the county with the highest vacancy rate, followed by Galway (16.2%), Leitrim (15.6%) Mayo (15.3%) and Longford (15.1%).
At the other end of the scale, Kerry (10.5%), Meath (10.7%) and Wexford (10.8%) recorded the lowest vacancy rates.
GeoDirectory was jointly established by An Post and Ordnance Survey Ireland (OSi) to create and manage Ireland’s only complete database of commercial and residential buildings.
The figures are recorded through a combination of the An Post network of 5,600 delivery staff working with OSi.
The GeoDirectory database is used by many different companies and organisations across a diverse range of applications.