Offaly still has highest rate of commercial vacancies across Leinster

The latest national survey on commercial vacancies found that they are increasing in Offaly, which remains the county with the highest proportion of idle units in Leinster.

The GeoDirectory Commercial Buildings Report for the first half of this year, which was compiled with the help of An Post delivery staff, in conjunction with Ordnance Survey Ireland, found that Offaly's vacancy rate stood at 16.1% at the end of June.

This was up by 0.7% on the figure from the same period last year, and was the highest vacancy rate in the province, followed by that of Laois (15.2%).

Edenderry remained the town with the highest vacancy rate in Offaly, and one of the highest in the country.

More than one in four commercial units in Edenderry (25.2%) were not in use at the end of June, but this represented an improvement on the situation in mid-2021, when the vacancy rate in the town stood at 27.7%.

Edenderry had the third highest vacancy rate in Ireland at the end of June, behind Edgeworthstown (26.3%) and Ballybofey (30.2%).

The GeoDirectory report found a commercial vacancy rate of 18.5% in Tullamore, and 16.8% in Birr midway through this year.

Announcing the results of the survey, GeoDirectory said the vacancy figures at the end of June captured "part of the recovery from the Covid-19 pandemic, the winding down of pandemic-related Government supports and the increasing inflation over recent months."

It cautioned, however, that it was likely to be 2023 before "the full-scale impact of this inflation on business" was known.

"As it stands, supply chain issues and rising business input costs, which were exacerbated by the Russian war in Ukraine, are a concern for all business sectors," the report noted.

The national commercial vacancy rate has grown overall, and, in addition to this, the total stock of commercial properties has fallen.

Nationally, the average rate of commercial vacancies stood at 13.9% halfway through the year.

Sligo was the county with the country's highest commercial vacancy rate, while Meath, at 9.9%, had the lowest level of vacant units.

GeoDirectory said the decrease in the number of commercial premises was predominantly seen in the retail and wholesale sector, where there were 800 fewer units than at the same stage last year.

The report also found that the accommodation and food services sector accounted for 14.3% of all commercial address points in Ireland at the end of June.

Kerry was the county with the highest proportion of accommodation and food services units, with nearly a quarter of all commercial premises in the Kingdom falling into this category.

Commenting on the report's findings, 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," he said.