Commercial vacancy rate still increasing in Mayo

Commercial vacancy rates in Mayo have increased, from 12.7 per cent in 2013 to 13.4 per cent in 2014, and there are now more than 1,000 vacant commercial premises in the county.

That is according to new research published by GeoDirectory this week.

The new research is from the 2014 quarter four edition of GeoView, which is published quarterly.

It is the second annual review of commercial vacancy rates in Ireland.

The data was published by GeoDirectory which 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 review found that the average national commercial vacancy rate in 2014 was 12.6 per cent.

Kerry recorded the lowest vacancy rate of any county at 9.1 per cent while Sligo recorded the highest commercial vacancy rate of any county at 16.5 per cent.

All four provinces recorded an increase in their overall vacancy rate in 2014.

The highest increase in commercial vacancy between quarter four 2013 and quarter four 2014 was recorded in Connacht where there was an increase of 0.8 per cent from 13.9 per cent to 14.7 per cent.

According to quarter four figures, there are 1,096 vacant premises in Mayo.

Commenting on the findings, Dara Keogh, CEO, GeoDirectory, said: “We have observed similar trends during 2013 and 2014, forming at a county and regional level, which is providing us with an overview of the picture from a national perspective. Average commercial vacancy rates are increasing. However the rate of increase of vacancy is slowing.”

The GeoView Commercial Premises Vacancy Report is published on a quarterly basis by GeoDirectory and DKM Economic Consultants, tracking commercial vacancy rates nationally and by county.

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