IN BRIEF: Sirius Real Estate sells business parks, buys self storage
Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Sells two business parks and buys three self-storage development projects, as part of its strategy of "recycling non-core UK assets". Sirius sells two "sub-scale" multi-use business parks in Sheffield, England for a combined GBP5.3 million, representing a 3% premium to book value. The sale is to a single purchaser with whom Sirius has transacted in the past but whom it doesn't name. It buys three self storage projects in Leicestershire, Bedfordshire, and Merton in London, all of which are subject to planning. The site acquisition costs total about GBP12.6 million, which will be funded from the recycling of the Sheffield assets and the remaining GBP7.3 million from further disposals of non-core UK assets expected this calendar year, Sirius says. Read More