SIRIUS REAL ESTATE
LIMITED
(Incorporated
in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
04 February 2025
Sirius Real Estate
Limited
("Sirius Real Estate", "Sirius", the
"Company" or the "Group")
Sirius to acquire Reinsberg business
park in Germany for €20.4 million
Sirius Real Estate, the leading owner and
operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the U.K.,
has notarised the acquisition of a business park in Reinsberg in
Saxony, Germany, for €20.4 million.
The Reinsberg acquisition is 75% occupied, the
majority of which is under a 10-year full repairing and insuring
lease to the vendor, generating a rental income of
€1.5 million per annum. The 25% vacancy provides Sirius with
an opportunity to add value by utilising its management platform to
lease up the space, while having significant day one long term
income. The purchase price represents a 6% EPRA NIY after purchase
costs.
The asset, completed in 2014, provides
approximately 37,000 sqm of lettable space, of which around 29,000
sqm (78.4%) is high quality industrial production space, and has
excellent connections to two major motorways in the area. Its
location close to the Klipphausen business park, which Sirius
acquired in February 2024, and another of the Company's parks in
Dresden, will allow Sirius to take advantage of operational
synergies in the region to enhance the assets'
performance.
Andrew Coombs,
Chief Executive Officer of Sirius Real Estate,
commented: "Our first acquisition of the year
at Reinsberg follows our significantly oversubscribed €350 million
bond issuance in January, and demonstrates both the strength of our
pipeline and our ability to transact quickly. The acquisition takes
advantage of a situation where we can add income and also have an
opportunity for significant value creation. The purchase shows how
we are able to leverage our platform to work with asset owners on
partial sale and leaseback transactions that help them better
manage their balance sheets while providing us with opportunities
to enhance our portfolio."
ENDS
For further
information:
Sirius Real
Estate
Andrew Coombs, CEO / Chris Bowman,
CFO
+44 (0) 20 3059 0855
FTI
Consulting (Financial PR)
Richard Sunderland / Ellie Sweeney / James
McEwan
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the
equity shares (commercial companies) category of the London Stock
Exchange and the premium segment of 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 U.K. As of 30 September 2024, the
Group's owned portfolio comprised 145 assets let to 10,025 tenants
with a total book value of €2.4 billion, generating a total
annualised rent roll of €214 million. Sirius also holds a 35% stake
in Titanium, its €350+ 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 and BizSpace names 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 refinance or dispose of assets selectively 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.
For more information, please
visit: www.sirius-real-estate.com
Follow us on LinkedIn
at https://www.linkedin.com/company/siriusrealestate/
Follow us on X (Twitter) at
@SiriusRE
JSE Sponsor
PSG Capital
