3rd Apr 2023 08:27
Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Completes disposal of two assets for a total of EUR12.2 million. The most recent disposal, which was completed on Saturday, was achieved at a 5.3% premium to book value of EUR8.3 million as at September 30, 2022 and comprises a mixed-use mature business park in Wuppertal, in North Rhine Westphalia, Germany. Sirius originally bought the property for EUR8.8 million in 2007. This disposal follows the EUR3.4 million sale at book value of a vacant office building in Ipswich, England, which completed in December.
"The strategic disposal of these assets at or above book value during a challenging market underpins the strength of our portfolio," Sirius Chief Executive Andrew Coombs says. In the last 12 months, the company has sold six assets for EUR45.7 million. It invested the proceeds in three new sites in Germany for EUR44.6 million.
Stock price close in London: 75.75 pence
12-month change: down 40%
Stock price close in Johannesburg: ZAR16.64
12-month change: down 31%
By Artwell Dlamini, Alliance News reporter
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