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Sirius Real Estate Limited completed the acquisition of a business park in Dresden, Germany, for €23.4 million (including acquisition costs), which currently generates a net operating income of €2.1 million and was acquired at an EPRA net initial yield of 9.13%. Simultaneously, the company acquired Chalcroft Business Park in Southampton, U.K., for £38.6 million (including acquisition costs), and an adjoining 4.5-acre development site for a further £4.2 million (including acquisition costs), with the business park generating a net operating income of £2.1 million and acquired at an EPRA net initial yield of 5.5%.
| Date | 2 Sept 2025 |
| Time | 07:00:05 |
| Category | Acquisitions and alliances |
| ID | 5383X |
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
2 September 2025
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius", the "Company" or the "Group")
Sirius completes acquisitions in Dresden, Germany and Southampton, U.K.
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 completed the previously announced acquisitions of a business park in Dresden, Germany, for €23.4 million (including acquisition costs), and of Chalcroft Business Park in Southampton, U.K., for £38.6 million (including acquisition costs), together with an adjoining 4.5 acre development site with outline planning permission, for a further £4.2 million (including acquisition costs).
The Dresden acquisition was completed on an expedited basis following notarisation in early August, facilitated by the vendor entering into a one-year sale and leaseback agreement. Sirius' strategy to reposition the site as a multi-tenanted business park is already under way and has attracted strong initial interest from prospective occupiers. The asset, Sirius' fourth in the Dresden area, currently generates a net operating income of €2.1 million and was acquired at an EPRA net initial yield of 9.13%.
Completion of the Chalcroft Business Park acquisition followed the fulfilment of a condition relating to increased on-site power capacity, supporting future expansion and development. Discussions are already under way with a prospective tenant regarding the build-out of the adjacent development land, which has the potential to deliver significant value creation. The business park currently generates a net operating income of £2.1 million and has been acquired at an EPRA net initial yield of 5.5%.
Both assets are located in highly desirable areas with strong transport connectivity. Southampton is a leading commercial and logistics hub on the South Coast, benefitting from excellent road, port, rail, and air links. Dresden continues to attract significant inward investment, notably the €10 billion semiconductor facility developed by Taiwan Semiconductor Manufacturing Company, which is driving strong tenant demand for Sirius' portfolio in the region. The newly acquired site is expected to benefit from similar momentum.
Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "The completion of these two acquisitions immediately adds €4.5 million of annualised income to Sirius' €2.7 billion portfolio in Germany and the U.K. More importantly, they provide attractive opportunities to leverage our platform to grow revenues and unlock new income streams through active asset management, enhancing yields while capitalising on the assets' strategic locations where we already have an established presence. Both acquisitions are fully aligned with our strategy of developing a diversified mix of flexible out-of-town business and industrial space tailored to local market demand, while supporting Sirius' broader sustainability objectives.
"With nearly €300 million of new investments secured so far this year, we are clearly demonstrating our ability to source and execute accretive transactions that strengthen our rent roll today and we expect will in the longer term deliver significant value for investors through development and repositioning initiatives."
ENDS
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0855
FTI Consulting (Financial PR)
Richard Sunderland / Giles Barrie / James McEwan / Ellie Sweeney
+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 UK. As of 31 March 2025, the Group's portfolio comprised 145 assets let to 10,477 tenants with a total book value of over €2.7 billion, generating a total annualised rent roll of €221.4 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/ or on X (Twitter) at @SiriusRE
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