French Investor Altixia REIM Enters Irish Commercial Property Market with €4.6m Deal

Explore the latest investment move by a French investor in Dublin, yielding a promising 7% net initial yield with prime property acquisitions.

French investor Altixia REIM has made a significant entrance into the Irish commercial property market by acquiring the College Green Collection for €4.6 million. This portfolio consists of two prime retail properties leased to Starbucks and Circle K, two well-known international brands. The purchase price represents a 23% discount from the initial asking price of €6 million, showcasing Altixia's strategic investment approach.

The Starbucks premises at 1-2 College Green is a prominent corner location with a total area of 2,478 sq ft. The property is currently leased to Starbucks, the world's largest coffee chain, with an annual rent of €185,000. Altixia's acquisition of this property is expected to yield a net initial yield of 6.7%, demonstrating the attractiveness of the investment opportunity.

On the other hand, numbers 4-5 College Green is another corner property leased to Circle K, a subsidiary of the Canadian convenience store giant Alimentation Couche-Tard. With an annual rent of €167,000 and a long-term lease in place, Altixia is set to achieve a net initial yield of 7.2% from this investment.

Overall, Altixia REIM's entry into the Irish commercial property market with the acquisition of the College Green Collection underscores the attractiveness of prime retail properties in Dublin. The discounted purchase price and the stable rental income from established tenants like Starbucks and Circle K position Altixia for long-term success in the market.

Altixia REIM's strategic investment in the College Green Collection reflects confidence in the Irish commercial property market and highlights the potential for strong returns in the retail sector.