Is Aldi ready to move into the property market?

COULD the German discounter Aldi be about to move into Dublin’s oversupplied apartment market?

The retailer has just got the green light from the planning appeals board for 90 apartments and a creche

at Finglas Road in north

Dublin.

It had previously secured permission from Dublin City Council for 160 residential units and a creche but when this was overturned by the board they opted for a scaled down development.

Aldi bought the site way back in 2003 and was refused planning permission for a discount retail store because of the impact it would have on the traffic along the busy Finglas Road.

The company has since opened two stores in the immediate area and one of these, beside a roundabout is thought to be one of its top performing outlets in the country.