Commercial premises vacancy rate of 10% in Tipperary

The total number of vacant commercial premises recorded in Tipperary to date was 929, an average vacancy rate in the county of 10% according to the first GeoView Quarterly Commercial Premises Vacancy Rates Report published jointly by GeoDirectory and DKM Economic Consultants.

The total number of vacant commercial premises recorded in Tipperary to date was 929, an average vacancy rate in the county of 10% according to the first GeoView Quarterly Commercial Premises Vacancy Rates Report published jointly by GeoDirectory and DKM Economic Consultants.

The total number of commercial premises identified by the GeoView Report in Tipperary is 9,017 commercial premises, which is 4.0% of commercial premises in the Republic of Ireland.

The total number of vacant commercial units or premises recorded in the Republic of Ireland was 25,432. The Q1 figures issued indicate an average vacancy rate for commercial units nationally of 11.4%, and are accurate as of January 2013. 223,451 commercial units were identified by GeoDirectory in the Republic of Ireland. The highest number of commercial units was recorded in Dublin with 49,035 premises and the largest number of vacant units - 6,202 or a 13% vacancy rate.

13 counties; Sligo, Leitrim, Carlow, Limerick, Galway, Dublin, Laois, Donegal, Mayo, Roscommon, Offaly, Waterford and Longford recorded commercial vacancy rates above the national average of 11%. Sligo (15.1%) and Leitrim (13.8%) and Carlow (13.1%) recorded the three highest commercial vacancy rates. In contrast Kerry, Meath, Westmeath and Wexford recorded the lowest commercial rate across the country, at 9%. The report uses an ‘address point’ as a unit as opposed to a ‘building’ which can comprise one or more units.

The report also includes the breakdown of address points by sector of economic activity using NACE codes. NACE codes are a statistical classification of economic activities used within the European Communities. These are aggregated into the following eight broad groupings: Industry, Financial and Insurance, Construction, Distribution, Education, Public Administration and Defence and Compulsory and Social Security, and Human Health and Social Work activities.

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.

DKM Economic Consultants is a leading economic consultancy with a strong record of research across many areas and sectors, including building and construction. DKM staff have accumulated considerable experience in working with a range of private and public sector clients, including Government departments, local authorities and other public sector agencies.

Full story in this week’s Tipperary Star.