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Laois Records Highest Rise In Commercial Vacancies In Ireland Last Year

Thursday, 3 March 2022 16:54

Vacancy rates are on the rise across the entire region.

Laois has recorded the highest rise in commercial vacancies in Ireland in the last year.

New data from GeoDirectory for quarter 4 of 2021 shows vacancy rates are on the rise across the midlands.

Offaly and Laois are both above the national average of 13.9 per cent - at 15.5 and 14.2 per cent respectively.

Westmeath is slightly below at 12.1.

Edenderry is the town with the highest vacancy rate in the midlands and second highest in the country, at 27.7 per cent.

Two other midlands towns are in the top 10 for commercial vacancy rates in Leinster - Athlone is sixth at 18.9 per cent and Portarlington ranks at 10th highest with a rate of 18.1 per cent.

CEO of GeoDirectory Dara Keogh says the fallout from Covid is having an impact on the figures:

The number of commercial properties in Westmeath and Laois has fallen, while Offaly gained one additional property.

Laois was home to 310 commercial properties in Q4 of 2020, which dropped to 303 for the same period in 2021.

Westmeath's figure fell from 454 to 453, while Offaly's increased from 297 to 298.

Nationally, close to 30,000 commercial property units are lying empty - the highest number recorded in nine years.

Mr. Keogh says it's possible the trend will continue in the retail sector:

You can read Geo Directory's report in full here.

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