More than 28,000 commercial properties in Ireland are unoccupied, new research shows.
This represents 12.6% of the total stock as of 30 June, up from 11.9% this time last year, according to Geodirectory, an organisation run by An Post and Ordnance Survey Ireland. Only two counties, Kerry and Carlow, saw a decrease in the rate of empty commercial property during Q2, with the number falling by 0.1% in each.
Dublin’s vacancy rate stood at 13.7% at the end of Q2, up 0.2% from the corresponding period in 2013.
While the overall rate of empty commercial property in the capital is high, there is a shortage of grade-A office space, with vacancy rates running at 4%, according to Savills.
By contrast, the vacancy rate for grade-C space in the south-west suburbs is around 32%.
sophia.furber@estatesgazette.com
