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

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