Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.

1 in every 8 commercial properties in Ireland vacant

Upcoming vacant property summit in Dublin with VPSitex Chief Operating Officer

A timely report was published this week on commercial premises, citing another rise in vacant properties across Ireland. It finds the national commercial vacancy rate had increased to 12.3% in Quarter 3, rising from 11.9% the previous quarter.

The news comes as a seminar on “Managing vacant property” is due to be held at the National College of Ireland on Tuesday 22nd October, run by IPFMA, the Irish Property and Facilities Management Association. The meeting picks up on the practical, legal and insurance compliance issues dealing with vacant properties, and has had to request a larger venue from the National College as demand for places at the seminar outstripped the original venue.

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“With over 16,000 empty homes and more than 27,000 commercial properties lying empty in Ireland, managing and looking after vacant properties is a critical topic.” says seminar speaker  Mr. Gavin Pringle, Chief Operating Officer for VPSitex, the leading vacant property specialist. “If these assets are looked after well, maintained, protected and secured, they will provide new homes for tenants and entrepreneurs much more quickly than if they are neglected.”

Mr Pringle, who has been a Director of FTSE 500 companies such as Tarmac and Biffa Waste Management, explains “Property and estate managers can take advantage at the earliest opportunity of any economic upturn to turnaround these empty assets. Assess the risk to a property, implement an appropriate and cost-effective solution, and any preventative measures will translate into avoiding expensive repair work.”

This is a free-to-attend event for IPFMA Members but also to qualifying jobseekers, as part of the Skillnet learning opportunity, and qualifies for three hours CPD.

VPSitex is part of Europe’s largest vacant property specialists, VPS, and every year almost 20,000 empty homes and commercial units that have been looked after by the company are re-let to new tenants or sold to new owners.

The  quarterly GeoView  provides accurate and up-to-date data on the stock of commercial properties in Ireland. It was commissioned by GeoDirectory from DKM Economic Consultants. This report provides analysis from the most comprehensive national database of vacant commercial buildings.

The Irish Property and Facility Management Association (IPFMA) is the leading professional body for the property management and facility management profession in the Republic of Ireland.

Both Mr Pringle and the VPSitex Business development Manager, Michael McNamee, will speak at the afternoon event alongside speakers from Savills, Matheson and Corporate Risk. Attendance will cost €25 to non-members of IPFMA. Contact professionaldevelopment@ipfma.com for more information.

Article Courtesy of VPSitex

Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.
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