Louth Has Greatest Overall Retail Density, Says CBRE
Study Highlights Uneven Density of Retail Stock Across Ireland
A new report by CBRE has found that County Louth has the greatest overall retail density of any county in Ireland, with over 1,220 square metres of shopping centre and retail park accommodation for every 1,000 people living there; a density that is 94% higher than the national average.
The study found that Westmeath has the highest density of shopping centre space in the country, with 82% more space than the national average.
Prime retail rents in Dublin are 50% down on the peak of the most recent cycle, and 30% below the 10-year average. Dublin was the fourth most expensive European retail location in 2007, and now stands in 20th, which the study says indicates that “prime retail locations in Dublin and across the country are becoming increasingly attractive to potential retail entrants.”
The study also found that there is “an unexpected variation of density of retail stock across the country, with some areas undersupplied, and others now having considerably more stock than the national average.” Mayo, Cavan, Wexford and Roscommon are the counties with the lowest stock density compared to the national average.