Sirius Real Estate Limited SIRIUS COMPLETES GBP16M SALE OF BIZSPACE CAMBERWELL (5914R)
07 Luglio 2022 - 8:00AM
UK Regulatory
TIDMSRE
RNS Number : 5914R
Sirius Real Estate Limited
07 July 2022
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
7 July 2022
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius" or the "Company")
SIRIUS COMPLETES GBP16 MILLION SALE OF BIZSPACE BUSINESS PARK IN
LONDON
Sirius Real Estate, the leading owner and operator of branded
business and industrial parks providing conventional space and
flexible workspace in Germany and the UK, advises that, further to
the announcement published on RNS and SENS on 16 May 2022, it has
completed the disposal of BizSpace Camberwell in London for GBP16
million.
The sale price represents a net initial yield of approximately
2.0% and a 94% premium to the value at the time of the Company's
acquisition of BizSpace in November 2021. The purchase of BizSpace
enabled Sirius to enter the UK market for the first time through
the platform acquisition of this leading provider of regional light
industrial, workshop, studio and out-of-town office units.
The multi-tenanted Camberwell business park comprised 34,700 sq.
ft. of industrial and office space and was 91% occupied following a
series of asset management measures delivered through the BizSpace
platform.
Commenting on the transaction, Andrew Coombs, Chief Executive
Officer of Sirius Real Estate, said: "The disposal of this asset
demonstrates our ability to utilise the expertise within the Sirius
and BizSpace platforms to identify, asset manage and crystallise
value in our portfolios. As part of our ongoing portfolio
management programme, we are progressing a small number of further
sales in the UK and Germany, capturing the value we have created
and allowing us to reduce our leverage post the BizSpace
acquisition and also recycle capital into asset managing value
within, or adding to, our portfolios. BizSpace continues to perform
well, benefiting from its integration into the group and from a
strengthened management team."
- ENDS -
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Diarmuid Kelly, CFO / Alistair Marks,
CIO
+49 (0) 30 285010110
FTI Consulting (Financial PR)
Richard Sunderland / James McEwan / Talia Jessener
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the main and premium
market of the London Stock Exchange and the main board of the JSE
Limited. It is a leading owner and operator of branded business and
industrial parks providing conventional space and flexible
workspace in Germany and the UK. As of 31 March 2022, and following
the acquisition of BizSpace, a leading UK provider of regional
flexible workspace, the group's portfolio comprised 140 assets let
to 9,452 tenants with a total book value of over EUR2 billion,
generating a total annualised rent roll of EUR167.1 million. Sirius
also holds a 35% stake in Titanium, its EUR350+ million
German-focused joint venture with clients of AXA IM Alts.
The Company's strategy centres on acquiring business parks at
attractive yields and integrating them into its network of sites -
both under the Sirius name and alongside a range of branded
products. The business then seeks to reconfigure and upgrade
existing and vacant space to appeal to the local market via
intensive asset management and investment and may then choose to
selectively refinance or dispose of assets once they meet maturity,
to release capital for new investment. This active approach allows
the Company to generate attractive returns for shareholders through
growing rental income, improving cost recoveries and capital
values, and enhancing returns through securing efficient financing
terms. The Company has a strong track record for growing its income
and has delivered like-for-like rent roll growth in excess of 5%
for the last eight consecutive years.
For more information, please visit:
www.sirius-real-estate.com
Follow us on LinkedIn at
https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE
JSE Sponsor
PSG Capital
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DISFZGGNVVVGZZM
(END) Dow Jones Newswires
July 07, 2022 02:00 ET (06:00 GMT)
Grafico Azioni Sirius Real Estate Ld (LSE:ESRE)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Sirius Real Estate Ld (LSE:ESRE)
Storico
Da Giu 2023 a Giu 2024