French investor Alderan has made its third investment in the Irish commercial property market, paying €7.15 million for the Maple Centre on the Navan Road in Cabra, Dublin 7. The investment on behalf of its real estate fund SCPI Comète comprises a neighbourhood retail scheme with seven units across a total area of 2,555sq m (27,500sq ft) along with a surface car park. The tenant line-up includes fast-food giant McDonald’s, O’Brien’s Wines and the supermarket chain Polonez. Alderan stands to secure a net initial yield of about 7.5 per cent from this investment. The transaction follows the French investor’s purchase for €11.5 million last September of Blocks 1 and 2 at The Pavilion in Dún Laoghaire. That investment comprises a portfolio of 12 retail units let to a variety of tenants that include Eason, O’Briens, Casper & Giumbinis, and Eddie Rockets. Alderan entered the Irish market in July 2024 with a €10.75 million deal for Grattan Business Park at Clonshaugh in Dublin 17. The Paris-headquartered firm acquired the scheme from the Channor Real Estate Group on behalf of its open-ended fund, SCPI Activimmo.The Maple Centre occupies a pivotal location at the junction of the Old Cabra Road, New Cabra Road and Ratoath Road and sits 3km from Dublin city centre and near the residential areas of Stoneybatter, Cabra and Phibsborough. Alderan’s acquisition also includes an adjoining development site of about 0.2 acres zoned “Z4 – district centre”. Permissible uses under this zoning include residential, hostel and hotel. A planning report carried out by John Spain Associates in 2020 suggests the site could accommodate heights of five to seven storeys.Michele McGarry of Colliers and Jonathan Hillyer of Grand Canal Capital Partners advised Alderan on its purchase of the Maple Centre, while Kevin McMahon of Savills acted for the vendor.Established in 2015, Alderan is an independent real estate investment management company originating from the real estate family office Ojirel. It has more than €2 billion in assets under management.Jonathan Hillyer of Grand Canal Capital said: “This illustrates how adaptive Alderan are when it comes to securing attractive returns. There will be further additions to their Irish portfolio. Ireland remains a key country for investment.” Michele McGarry of Colliers said: “The acquisition of the Maple Centre highlights sustained appetite from international capital for Irish retail investments with stable income profiles. We are delighted to have supported Alderan on another acquisition in Ireland as they continue to expand their presence in the market.”