Investment opportunity in Carrigaline a banker next to future Aldi

Investment opportunity in Carrigaline a banker next to future Aldi
This building in Carrigaline currently leased to AIB is on the market for a price quoted at €1.125m. The property, which includes approximately 14 car parking spaces, adjoins a site believed to be be earmarked for an Aldi store, something which no doubt will appeal to the population of 16,000 plus.

A NEW investment opportunity on Main Street Carrigaline, is ideally located to capitalise on the footfall of time-poor consumers who will be happy to see the town’s first Aldi in close proximity to where many do their banking.

Well-placed sources have indicated that Aldi is about to shake up the retail mix in the thriving town south of Cork city, good news for anyone considering buying a detached, two-storey property — currently leased to AIB — which is adjacent to the site now believed to be ear-marked for the German discount store.

Savills are handling the sale of the Carrigaline commercial property which comes with the benefit of existing tenancy, with a tenant break option at the expiration of year 15 (April, 2022) subject to six months’ notice.

Carrigaline, county Cork’s largest town, already has a Dunnes Stores, a Supervalu and a Lidl, but with a population of almost 16,000 and growing, an Aldi store will be welcomed by consumers.

Currently, the nearest Aldi store to Carrigaline is Grange, in Frankfield, near Cork city, but that is set to change with work underway on the former Cinema World site in Douglas where permission was granted in 2017 for an Aldi supermarket.

Savills selling agent Chris O’Callaghan says the property “enjoys a prime location with excellent profile on the Main Street of Carrigaline with a high volume of passing vehicular and pedestrian traffic daily”.

The price quoted is €1.125m and the overall holding includes approximately 14 car parking spaces for the benefit of the tenant.

The property is currently let in its entirety to AIB under a 20-year full repairing and insuring lease from April 2007, with a rent of €112,600 per annum.

The entire building extends to approximately 335.13 sq m (3,607 sq ft) while the secure car park is on c0.14 acres.

Internally, the property comprises a ground floor banking hall, with a number of private offices and safe room, while the upper floor comprises staff toilets, canteen and staff/store accommodation.

Details: Savills.ie/ 0214271371

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