Savills has sold a 1,854 sq m (19,956 sq ft) retail asset in Sandyford, Dublin 18, on behalf of receiver Farrell Grant Sparks for €7.7 million, reflecting a net initial yield of 7.5%.

The property has been purchased by a private investor and is 100% let to Aldi supermarket on a 25-year lease with a current rent of €603,375 per annum.  The ground floor unit is located in The Boulevard, a shopping and residential complex just off the M50 motorway.

Fergus O’Farrell, investment director at Savills Ireland, says: “Investors continue to show interest in the food retail market in Ireland and we had a lot of interest for this property due to the quality covenant, convenient location and long, unexpired lease term.”

Further information of recent property sales by Savills in Ireland can be found here.