6th Jan 2020 08:07
(Alliance News) - Germany-focused commercial property investor Sirius Real Estate Ltd on Monday said it has acquired two business parks for a combined EUR33.4 million.
The Neuss II asset, located roughly 9.5 kilometres from the Dusseldorf city centre, offers 34,000 square metres of space and is 82% let. It complements Sirius Real Estate's existing assets in Dusseldorf, where it already owns two other business parks.
In the Brandenburg region, the firm purchased the Neuruppin business parks, an asset with 22,400 square metres of lettable space. Neuruppin is fully-let to a single tenant, ESE GmbH, a waste and recyclables storage systems provider.
Sirius Real Estate said: "These acquisitions provide a total of 136,000 square metres of lettable area, with 14% vacancy, producing a current annual rent of EUR7.7 million."
In November, Sirius Real Estate said it had set aside EUR170 million for new acquisitions. The deals announced on Monday mean the company has spent EUR98 million of those funds.
In London, the stock was down 1.0% at 89.30 pence each in early trade on Monday. In Johannesburg on Monday morning, shares in Sirius Real Estate were untraded, last quoted at ZAR16.61.
By Eric Cunha; [email protected]
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