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Commercial vacancy rates in Cavan and Monaghan lower than national average

Feb 25, 2021 12:16 By News Northern Sound
Commercial vacancy rates in Cavan and Monaghan lower than national average
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Commercial vacancy rates in Cavan and Monaghan are lower than the national average, despite increases in the rate in the fourth quarter of last year.

Commercial vacancy rates in Cavan and Monaghan are lower than the national average, despite increases in the rate in the fourth quarter of last year.

Every county in Ulster, Munster, and Connacht had an increase in vacant commercial properties during the pandemic.

GeoDirectory says the national average was 13.5%, up 0.2% on the same period in 2019.

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The commercial vacancy rate in Monaghan increased by 0.2% in the last three months of 2020, rising to 13.3%, which is slightly below the national average.

Of the towns in Monaghan sampled, Castleblaycpviney (22.0%) had the highest commercial vacancy rate, while Carrickmacross (11.5%) had the lowest.

The same increase applied in Cavan, where the vacancy rate is now 12.9%.

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Of the towns in Cavan sampled, Bailieborough (21.9%) had the highest commercial vacancy rate, while Cavan Town (16.9%) had the lowest.

Sligo has the highest vacancy rate in the country (19.9%), with almost one-in-five commercial properties vacant within the county.

Dara Keogh, the CEO of GeoDirectory, says "it's been an extremely turbulent twelve months for commercial sectors in Ireland", which may "point to the changing face of retail, with businesses moving towards an online model".

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