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  • Israeli investor pays €4.5 million for Parnell Street building
Uncategorized
Dec 14, 2011 - 13:48

Israeli investor pays €4.5 million for Parnell Street building

The MyHome Newsdesk
By The MyHome Newsdesk
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Israeli investor pays €4.5 million for Parnell Street building

The building currently housing the Aldi store in Parnell Street in Dublin has been sold to an Israeli businessman for €4.5 million.

The investment will show a net initial yield of 7.9%, according to Jacqueline Fitzpatrick of selling agents Savills.

The sale was carried out at the request of Kieran Wallace of KPMG, who is receiver to a subsidiary company of South Dublin Construction.

The 1,215sq m (13,078sq ft) supermarket is let to Aldi on a 25-year lease with about 13 years to run. The next upwards-only rent review is due in 2013.

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Earlier this year the same Israeli investor paid around €13 million for a newly opened Tesco store in Roscrea. That deal is showing a return of 7%.

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  • Tags
  • Aldi
  • Israel
  • Jacqueline Fitzpatrick
  • Kieran Wallace
  • KPMG
  • Roscrea
  • Savills
  • South Dublin Construction
  • Tesco
The MyHome Newsdesk
By The MyHome Newsdesk
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