27th Mar 2025 10:31
(Alliance News) - Sirius Real Estate Ltd said on Thursday it has acquired Monchengladbach business park for EUR17.2 million, while it has sold BizSpace Cardiff for GBP5.1 million.
The London and Johannesburg-listed property investor said that once it has completed the Monchengladbach acquisition, it will have deployed EUR118 million of the EUR181 million raised in July 2024 on six assets.
The Monchengladbach site is being acquired through a sale and partial leaseback agreement with the owner, SMS Group GmbH. The Monchengladbach asset is located close to Dusseldorf, Duisburg and Cologne in Germany's North Rhine-Westphalia, where Sirius already owns a number of business parks.
The sale of BizSpace Cardiff at a 20% premium to book value is the fourth disposal in the UK this current financial year, Sirius said.
Sirius entered into terms to sell Cardiff with the buyer in September 2023, subject to planning approval, which was granted in December 2024.
Chief Executive Officer Andrew Coombs said the acquisition in Monchengladbach allowed the group to take ownership of an asset with enormous potential, while the disposal of its Cardiff asset underlined its ability to maximise the value of non-core assets.
Shares in Sirius rose 2.1% to 85.25 pence in London on Wednesday, and they gained 1.9% at ZAR20.12 each in Johannesburg.
By Artwell Dlamini, Alliance News reporter
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