New figures show town centres across the country need help as the number of vacant commercial properties stands at its highest rate since records began. Despite this, local commercial vacancy rates here in the Northern Sound region are lower than national average. While the commercial vacancy rate in Monaghan increased to 14.1% in December 2023, this was still lower than the national average of 14.3%. Elsewhere in Co Cavan, the commercial vacancy rate increased to 12.7% in December 2023, which again was lower compared to the national average.
Of the towns in Cavan analysed, Cootehill had the highest commercial vacancy rate in Q4 2023 at 23.2%, while Cavan Town had the lowest at 16.5%. Elsewhere, of the towns in Monaghan analysed, Castleblayney had the highest commercial vacancy rate in Q4 2023 at 25.1%, while Carrickmacross had the lowest at 16.7%.
Action plans transforming one town centre in every county are set to be unveiled by the Minister for Social Protection Heather Humphries tomorrow. Speaking to Northern Sound, GeoDirectory CEO Dara Keogh says schemes like the Town Centre First policy are vital to making sure we don't slip further with our vacancy rates.
