Aldi Foodstore Sandyford, The Boulevard, Dublin 18

The Boulevard is a highly accessible shopping and residential location in the affluent Dublin suburb of Sandyford. The scheme is one of the most accessible in the city, lying adjacent to the M50 Motorway for vehicular transport and also served by two Green-line Luas stops within walking distance and 6 different Dublin Bus services. The property also has ample car parking provision in place.

Lying at the heart of the Sandyford Estate, the location also boasts a 12,000 strong and growing workforce, in addition to a catchment of 925,000 people living within a 30 minute commute. The Aldi unit occupies a high profile position fronting Blackthorne Drive and the Boulevard pedestrianised retail parade, immediately opposite the Stillorgan Luas stop.

Description
Aldi Stores occupy Unit 1 of Block D at the Boulevard, fronting Blackthorne Drive. The unit comprises a high quality dual access retail unit at ground level below a luxury apartment block. The unit offers a full height glazed shop front within a modern development, attractively finished with stone façade and set amongst landscaped gardens and a pedestrian plaza. The property has ample car parking provision, provided by an underground car park with access via a travelator. The tenant currently has the exclusive right to 100 spaces for customer use.

Accommodation
The property extends to 1,854 sqm (19,956 sq ft) on a gross internal basis, which is divided as follows:
Area Sq M Sq Ft
Retail Area 1,165 12,540
Storage / Ancillary 689 7,416
Total 1,854 19,956

Tenancy
The property is let to Aldi Stores (Ireland) Limited on a 25 year lease commencing 11th October 2011. The lease contains a tenant’s break option in October 2029 subject to 12 months notice. The current passing rent is €603,375.62 per annum, with five-yearly revisions linked to the movements of the Consumer Price Index, capped at a maximum of 4% per annum, compounded annually.

Covenant Information
Aldi (Stores) Ireland Ltd is a wholly owned subsidiary of the UK parent company, Aldi Stores Ltd. Aldi does not disclose its sales or profits in Ireland. The group’s turnover for its UK and Irish operations
in 2010 was £2.135bn, an increase of £95m or 5pc on the business’s turnover of £2.04bn for 2009.

Tenure
The subject property with be disposed of by way of a 999 year long-leasehold interest at nominal rent.

Pricing
On application.

Viewings are strictly to be arranged through the selling agents.