IN BRIEF: Sirius Real Estate buys asset in Munich for EUR13 million
Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Acquires a development site in Munich, immediately adjacent to its Munich-Neuaubing business park, for EUR13.3 million. The site has been acquired at its land value, Sirius says, and represents an "important" strategic acquisition that allows it to secure the final corner of a 130,000-square-meter estate, presenting value add and development options in the future. "The new asset being acquired comes with day one rent roll of about EUR740,000 per annum and the company envisions re-positioning the tenant base to maximise this income in the short term whilst exploring development plans," Sirius says. Read More