Availability in the Limerick/Shannon market picked up slightly in the past six months with the overall vacancy rate coming in at 10.3% for the first quarter although this masks something of a divergence with Limerick vacancy rates lower than in the rest of the region. At the end of the quarter the vacancy rate for Limerick City Centre stood at 2.6%, while the Suburbs had a lower rate of 2.1%.
Stock availability in the Limerick area has dwindled rapidly in recent quarters. By the end of Q1 the vacancy rate was down to 1.1%, the lowest rate on record and one that compares with the quarterly average of 6.3% over the past five years. The available stock varies depending on size and grade. Approximately 40% of the current available stock comprises units of less than 1,000 square metreswith a further three units of sizes ranging from 1,300-3,200 square metres. By quality approximately 80% of the stock in the market is A or B rated.
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