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Sirius Real Estate completes German business park acquisition for €9.2mln
The property is located adjacent to a business park already present in Sirius' portfolio, creating opportunities for a wider development
Company
LON:SRE
Sirius Real Estate Limited is a leading owner and operator of branded business parks, industrial complexes and out of town offices in Germany and the UK. The company's purpose is to create and manage optimal workspaces that empower small and medium-sized businesses to grow, evolve and thrive. Sirius seeks to unlock the potential of its people, its properties and the communities in which it operates, so that together they can create sustainable impact and long-term financial and social value.
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The property is located adjacent to a business park already present in Sirius' portfolio, creating opportunities for a wider development
"ESG is an embedded part of the Sirius business and is at the heart of the way we continue to deliver successful returns"
For the first nine months of the financial year to end-March 2021, Sirius received 97.7% of rents
Titanium, the name of the joint venture, is acquiring the 113,000 square metre park for €80mln
The purchases are located in Norderstedt, Hamburg and Nuremberg as well as a 3,000 square metre property adjacent to the firm's existing Mannheim II business park
The final dividend was raised by 4% on last year to 1.80c per share, bringing the total distribution up 6% to 3.57c
Investments and investor services
The UK's blue-chip benchmark added over 23 points to close at 7,184
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Asides from the macro news, the Week Ahead also brings the latest quarterly FTSE indexes reshuffle, a strategy update from insurer Aviva, and results from Auto Trader
Software companies are flocking to Berlin, Leipzig and Dresden, while the Dusseldorf-Cologne corridor is the place for tech hardware and telecoms firms.
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