DCSIMG

Limerick’s Patrick Street has highest vacancy in the State

Long wait: the delayed Opera site has seen the vacancy rate rise to the highest in the country and is now at 56%

Long wait: the delayed Opera site has seen the vacancy rate rise to the highest in the country and is now at 56%

  • by Anne Sheridan
 

NEARLY 1,400 commercial premises in Limerick were vacant in the first quarter of this year.

Of the 10,064 commercial addresses recorded in Limerick, 1,392 were vacant in the first three months of this year, amounting to a commercial vacancy rate of 13.8% - higher than the national commercial vacancy rate at 12.4%.

The total number of vacant commercial premises in Limerick has increased from 12.8% in the first quarter of 2013 to 13.8% in this quarter, according to new data published by GeoDirectory.

For the first time the report includes an analysis of the commercial vacancy rates of a selection of Ireland’s main shopping centres and high streets in Dublin, Cork, Galway, Kilkenny and Limerick.

In Limerick, the report examined commercial vacancy rates on Patrick Street (56.0%), home of the long-awaited Opera site; Cecil Street (41.0%), Ellen Street (38.1%), Foxes Bow (30.4%), Cruises Street (18.8%) Roche’s Street (15.8%), Thomas Street (14.7%), O’Connell Street (10.3%) and William Street (10.3%).

They also analysed commercial vacancy rates in Roxboro Shopping Centre (43.2%), Castletroy Shopping Centre (31.3%), Parkway Shopping Centre (20.5%) and Crescent Shopping Centre (5.1%).

The street with the highest commercial vacancy rate was Patrick Street in Limerick where 14 of the 25 (or 56.0%) commercial units were classified as vacant.

Opera Lane in Cork, comprising 15 units, and College Street in Dublin, which has eight units, were the only two high streets found to have full occupancy. The shopping centre with the highest commercial vacancy rate was the Roxboro Shopping Centre in Limerick, with a 43.2% vacancy rate. Mahon Point in Cork and Jervis Street Shopping Centre in Dublin were the only two shopping centres found to have full occupancy.

Dara Keogh, chief executive of GeoDirectory, said “our findings illustrate that there are certainly parts of the country that are feeling the effects of the economic downturn more keenly than others.”

 

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