TWM Select have been retained as agents for a retail premises in central Dublin which is being sold as an investment.
The firm is seeking a buyer for Aldi on Parnell Street in Dublin 1 with an asking price of €5.75m.
The 13,000 square foot property is one of the main retail properties in the city centre.
The lease is guaranteed by Aldi’s UK parent company and has an unexpired term of 8.75 years. The current rent is €386,500 per annum and rent reviews are upwards only. With a floor area of just over 13,000 sq ft the rent breaks back to some €29 a foot.
The quoting price of €5.75m would provide an investor with an attractive net initial return of 6.4pc.
Selling agent Sean O ‘Neill of TWM states that contracts are available and a sale can be completed before year end for those looking to acquire to avail of the Capital Gains Tax exemption.
“If you are looking to obtain a secure “no hassle” investment prior to year end with excellent growth prospects then the Aldi investment on Parnell Street is ideal,” he said.
“This is a vibrant city centre commercial area with high density residential in the vicinity also making this an ideal supermarket location,” he said.
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