GeoDirectory records a national commercial premises vacancy rate of 11%

Key Highlights:
  • 23,834 commercial units recorded as vacant by GeoDirectory, out of a total number of 226,622 nationally
  • Dublin records the highest number of commercial units with 48,760 and the largest number of vacant units identified of 5,581
  • Sligo and Leitrim recorded the highest commercial vacancy rate of 14%
  • Galway had the largest number of commercial premises vacant for a city at 818, 13% of total stock
Tuesday, 21st August, 2012: The total number of vacant commercial units or premises recorded to date across the country was 23,834, according to figures released today by GeoDirectory.  The figures represent an average vacancy rate for commercial units nationally of 11%, and are accurate as of June 2012. 
The total number of commercial units identified by GeoDirectory in the Republic of Ireland is 226,622.  The highest number of commercial units was recorded in Dublin where 48,760 premises were recorded, while also recording the largest number of vacant units with 5,581 or a 12% vacancy rate.  Eight counties; Carlow, Donegal, Dublin, Galway, Leitrim, Mayo, Roscommon and Sligo recorded commercial vacancy rates above the national average of 11%.  Both Leitrim and Sligo recorded the highest commercial vacancy rate of 14%, with 268 vacant units identified in Leitrim of a total of 1,929 premises.  Figures for Sligo show that 517 units were vacant of an overall total of 3,648 premises. 
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 area recorded through a combination of the An Post network of 5,600 delivery staff working with OSi. 
The new data shows that Kerry recorded the lowest commercial rate in the country with 602 or 7% of units identified as vacant.  In addition, Galway has the highest number of commercial premises vacant for a city at 818, or 13% of total stock identified. 
The highest number of vacancies recorded in towns across the Republic of Ireland were in Claremorris, Co. Mayo; Little Island, Co. Cork and in Dublin 17, with 126, 244 and 156 respectively.  All three have a commercial vacancy rate of 18%.  In contrast, Kinsale, Co. Cork recorded the lowest commercial vacancy rate of 5% or 31 units. 
Commenting on the newly released figures, Dara Keogh, CEO, GeoDirectory said, “These newly published figures present us with an overall picture of the commercial property landscape in Ireland, highlighting 11% of the 226,622 premises recorded as vacant.  This is representative of a trend we have identified nationally, with figures released in July highlighting 12% of new residential and commercial buildings for the first six months of the year as vacant.  The vacancy rate of 11% would mean that 9 out of 10 commercial premises across the country are occupied.
This positive trend is supported by the 14 counties which are below the national vacancy rate of 11%.  We would hope that this new data will allow us to work with our partners both in the public and private sector to support effective and long-term planning in the Republic of Ireland,”
Notes to Editor: 
Mr. Dara Keogh, CEO, GeoDirectory is available for interview. 
Each of the 1.8 million building records contained in GeoDirectory includes an accurate standardised postal address; usage details for each building (commercial or residential); a unique 8-digit identity number or fingerprint; and x, y coordinates which accurately locate the centre point of each building to within one metre on the National Grid.
The GeoDirectory database is used by many different companies and organisations across a diverse range of applications. The Emergency Services use GeoDirectory for route optimisation when responding to 999 calls, saving valuable minutes and lives in time-critical situations. Similarly companies like Dominos Pizza use GeoDirectory for address location to ensure that delivery times are met. In the property sector, GeoDirectory is used by and the Property Registration Authority. In addition, utility companies, banking and insurance providers, and all local authorities use the database.
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