Savills IM has acquired two new properties let to Aldi supermarkets in Spain for an undisclosed price.
A 1,660m2 supermarket in Alzira, Valencia was acquired from Ten Brinke. The asset benefits from growing local demand for food retail and has Aldi secured as a long-term tenant for the entire space. The second is a newly constructed 1,770m2 property in Aranjuez, south of Madrid, which was purchased from OMO Retail as part of an off-market transaction. The property is also fully let to Aldi on a long-term lease.
Savills IM expects to further expand the cooperation with Ten Brinke and OMO in the medium and long term and is prospecting investment opportunities in thriving locations in Spain, Portugal, Italy, the UK, Ireland, Benelux, and the Nordics. In addition to the acquisitions in Spain, Savills IM acquired, by forward purchase, a new supermarket property in Dublin’s Adamstown district, which is let to Aldi and Tesco.
Savills IM’s food retail strategy, diversified across seven countries, now has around €370m in capital commitments from German institutional investors, raised since 2020. The Spanish deal comes two months after Savills IM acquired a supermarket portfolio comprising four strategically located properties in Portugal for €39 million. The four established supermarkets are located in Gulpilhares, Olhao, Castelo Branco, and Nazare. The total rental space of 21,600m2 is fully leased on a long-term basis to food retailer Continente.
Cushman & Wakefield will manage four Continente Modelo supermarkets purchased by Savills IM.
