UK disposals and self storage acquisitions update
Summary by AI BETAClose X
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
25 June 2026
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius", the "Company" or the "Group")
Sirius disposes of two non-core U.K. assets and recycles into three self storage assets
Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., announces that it has exchanged contracts to dispose of two non-core U.K. assets and acquire three U.K. self storage opportunities.
In line with its strategy of recycling non-core U.K. assets, Sirius has exchanged contracts to dispose of two sub-scale multi-use business parks in the Sheffield area in the north of the U.K., for a combined consideration of £5.3 million, representing a 3% premium to book value. The Sheffield assets are being sold to a single purchaser with whom Sirius has previously transacted. Both sites are stable and well occupied but offer limited scope to drive further income or valuation growth.
Building on Sirius's existing extensive framework of self storage offerings across Germany and the U.K., as well as its recently announced development on its existing site at Berlin Gartenfeld, Sirius has exchanged contracts to acquire and develop three digitally automated self storage opportunities, located in Leicestershire, Bedfordshire, and Merton (Greater London), all of which are subject to planning. The site acquisition costs total approximately £12.6 million which will be funded from the recycling of the Sheffield assets and the remaining £7.3 million from further disposals of non-core UK assets expected this calendar year.
All three sites benefit from excellent locations characterised by market undersupply alongside strong business and residential fundamentals. The Leicestershire and Bedfordshire assets will open in spring 2027, with the Merton site expected to complete in 2028. Each of these self storage development projects are forecast to generate double digit IRR's in excess of our cost of capital.
These transactions are consistent with the Group's strategy of recycling capital from mature, smaller assets into opportunities with stronger returns potential.
Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "The disposals, agreed at a premium to book value, demonstrate Sirius's continued focus on disciplined capital recycling, crystallising value from smaller, mature assets where we see limited scope for further income or valuation growth and redeploying the proceeds into opportunities with stronger returns potential.
"The two self storage conversion sites in Leicestershire and Bedfordshire are expected to open early in the next financial year, with all three acquisition opportunities representing an exciting further step in our self storage strategy, as we expand on what is already an extensive, high-yielding and resilient part of our platform. These transactions are another example of the active asset management that underpins our ability to generate sustainable returns for shareholders."
ENDS
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0821
FTI Consulting (Financial PR)
Richard Sunderland / Giles Barrie / Talia Shirion / Ellie Smith
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the equity shares (commercial companies) category of the London Stock Exchange and the premium segment of the main board of the JSE Limited. It is a leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K. As of 31 March 2026, the Group's portfolio comprised 145 assets let to 11,736 tenants with a total book value of approximately €3.0 billion, generating a total annualised rent roll of €258.6 million. Sirius also holds a 35% stake in Titanium, its €350+ million German-focused joint venture with BNP Paribas Asset Management Alts.
The Company's strategy centres on acquiring business parks at attractive yields and integrating them into its network of sites - both under the Sirius and BizSpace names and alongside a range of branded products. The business then seeks to reconfigure and upgrade existing and vacant space to appeal to the local market via intensive asset management and investment and may then choose to refinance or dispose of assets selectively once they meet maturity, to release capital for new investment. This active approach allows the Company to generate attractive returns for shareholders through growing rental income, improving cost recoveries and capital values, and enhancing returns through securing efficient financing terms. For more information, please visit: www.sirius-real-estate.com
Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/ or on X (Twitter) at @SiriusRE
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