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Corum acquires Aldi for €5.6m

Colliers International, who acted on behalf of Corum, are delighted to announce the acquisition of Aldi Supermarket in Carrigtwohill County Cork. The price tag of €5.6m represent a NIY of 7.34% and a capital value of €328 psf. This caps off a very busy first quarter for Corum who also completed the purchase of One Kilmainham and Classon House, both in Dublin. Aldi hold a 25-year lease from January 2008 with a passing rent of €451,719. The property comprises a ground floor retail store extending to c. 17,046 sq ft within a larger multi-storey building within the Castle Square development. The unit forms part of the Castle Square development which is a mixed-use scheme. The unit is located on the main street to the west of Carrigtwohill town centre. Cearbhall Beehan of Behan Irwin & Gosling inc Downing Commercial acted on behalf of the vendor while Aoife Murray of Colliers acted for the purchaser.

“This is an excellent purchase especially in today’s challenging economic climate and with such a resilient retailer it will further bolster their Irish Portfolio” Aoife Murray, Colliers. Corum has been one of the most active investors in the market over the past number of years. They have now invested over €210m across both Ireland and Northern Ireland with a portfolio spread across retail and office space. Most recent transactions have been One Kilmainham, Classon House and Tesco (Gorey Co. Wexford).
Aldi is a discount supermarket chain based in Germany. It has over 10000 stores across 20 countries. The first store opened in 1946 in Essen.

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Colin O'Shea

Surveyor | Capital Markets

Dublin

Colin is a Surveyor on the  Investment Team, involved in both disposals and acquisitions.

Colin is a graduate of the University of Limerick where he studied Economics & Finance graduating in 2011. Colin then went on to study an MSc in Management Consultancy at the UCD Smurfit Business School.

Colin recently completed  an MSc in Real Estate at the Technological University Dublin and is training towards membership of the Society of Chartered Surveyors Ireland. Colin previously held roles with the National Asset Management Agency prior to joining Colliers. 

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