June 18, 2021
Business News Property

Sign of the times: More than one-in-seven Waterford premises now lying empty

More than 14% of Waterford’s commercial premises are currently vacant, a new survey reveals.

The rate has remained the same from 2018, according to the latest GeoView Commercial Vacancy Rates Report published by GeoDirectory.

Waterford city has the highest commercial vacancy rate in the county at 17.0%. Tramore has the lowest vacancy rate at 12.9%, while 13.7% of premises in Dungarvan are now vacant.

The report found the commercial vacancy rate increased in all four provinces in 2019. The national commercial vacancy rate stood at 13.3% in Q4 2019, 0.1pp higher than the same period in 2018.

In total, 16 counties recorded increases in their commercial vacancy rate, with a decrease occurring in only 6 counties.

Sligo (18.9%) was the county with the highest commercial vacancy rate.

The five counties with the highest vacancy rates were all located in Connacht, a sign of the prominent east-west divide in terms of commercial activity.

At 10.1%, Meath recorded the lowest commercial vacancy rate in the country, followed by Kerry (10.7%), Wexford (10.9%), Westmeath (11.6%) and Cork (11.7%).

The commercial vacancy rate in Dublin is 12%.

 

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