Affordable Commercial Property
Commercial property rental prices are substantially cheaper in county Monaghan than in other locations in Ireland. Similarly, office rents are substantially cheaper in Monaghan across all office grades. This is in contrast to rising rents and property shortages elsewhere in the country.
Low Labour Costs
Average labour costs are consistently substantially lower across all staffing grades in county Monaghan as compared to other locations across Ireland such as Dublin, Galway or Cork. This is largely due to the fact Monaghan is a highly affordable location to live and raise a family, with essential costs such as property and childcare significantly lower than in Ireland’s large urban centres.
Commercial Rates
Rates are a commercial charge levied on the occupiers of commercial and industrial property and are charged on an annual basis. Local authorities collect rates based on property valuations. Property valuations are provided by the Valuation Office, a state agency. Valuations are based on four key criteria:
- The potential rental value of the property
- The size of the unit
- The use of the space, i.e. retail/office/industrial/warehousing/pub, etc.
- Comparisons with other typical units.
The 2020 Annual Rateable Valuation for Monaghan County Council is €0.226
Typical calculation example: If your property has been valued at €15,000 by the Valuation Office, the commercial rates for the year will be calculated as €15,000 x €0.226 = €3,390 payable to Monaghan County Council.
Water Charges
Irish Water is responsible for public water and wastewater services in Ireland and management of business water accounts including billing for water services. From the 1st May 2020 a new, national set of charges that will be transparent, cost reflective, and equitable for all businesses countrywide will be introduced. The new tariffs to be applied have been decided following a consultation process under taken by the Commission for Regulation of Utilities (CRU).
For further information visit here.
Planning Permission Application Fees
In addition, planning permission application fees apply. Details of fees for commercial/industrial development can be viewed here.
(Planning and Development Regulations, 2001).
