06 Oct 2022

14.4% of commercial premises in Louth are vacant

14.4% of commercial premises in Louth are vacant

Louth has a commercial vacancy rate of 14.4% slightly above the national rate of 13.9% according to the electronic register of addresses Geodirectory.

The number  is slightly down on the figure of 14.7% in quarter two last year 

The GeoDirectory Commercial Buildings Report for Q2 of 2022 measures the commercial property stock in the county that is unoccupied.

The vacancy rate in Dundalk stood at 18.5% while the vacancy rate in Drogheda was 18.8%.

Ardee recorded the largest year-on-year decrease in vacancy rates, dropping 3.0percentage points from 16.8% in Q2 2021 to 13.8% in Q2 2022. 

Commenting on the findings of the report, Dara Keogh, Chief Executive of GeoDirectory said:

“The latest GeoDirectory Commercial Buildings Report highlights a marginal but continued rise in commercial vacancy rates across Ireland. At 13.9%, the national commercial vacancy rate in Q2 2022 was the highest recorded by GeoDirectory since we started compiling these reports in 2013. 

“The past two and a half years have proved to be difficult for businesses to navigate, thanks to the impact of Covid-19 restrictions followed by rising inflation and energy costs.”

Annette Hughes, Director, EY Economic Advisory said:

“We have seen a continuation of a trend we have seen in previous reports which shows a clear divide between the east and west of the country in terms of commercial activity. The highest vacancy rates were found in Connacht and the north-west, which were significantly higher than the national average. In the twelve months to June 2022, commercial vacancies increased in 15 out of 26 counties.”

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