AN ISRAELI businessman has paid €4.5 million for the Aldi retail investment at Parnell Street in Dublin. The investment will show a net initial yield of 7.9 per cent, according to Jacqueline Fitzpatrick of Savills. The sale was carried out at the request of Kieran Wallace of KPMG who is receiver to a subsidiary company of South Dublin Construction.

The 1,215sq m (13,078sq ft) supermarket is let to Aldi on a 25-year lease with about 13 years to run. The next upwards-only rent review is due in 2013. Earlier this year the same Israeli investor paid around €13 million for a newly opened Tesco store in Roscrea. That deal is showing a return of 7 per cent.