Acquisition in Geilenkirchen and Disposal of Asset
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
26 June 2025
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius", the "Company" or the "Group")
Acquisition in Geilenkirchen, Germany and Disposal of Non-Core UK Asset
Sirius Real Estate, the leading operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK, has continued to execute on its strong acquisition pipeline, having notarised the purchase of a light industrial property in Geilenkirchen, Germany, for a total consideration of €12.9 million.
The asset was acquired by way of a sale-and-leaseback transaction, with a precision engineering business that specialises in processing sheet metal using laser technology, which has entered into a triple net lease on the entire property. The acquisition reflects a net initial yield of 9.3% on a property that is less than 25 years old.
The property is in a strategic location in Geilenkirchen, west of Düsseldorf, 33km from Sirius' existing site in Aachen. In close proximity to the Belgian and Dutch borders, the area is known as the Euregio Maas-Rhine and is one of Europe's most dynamic economic regions, benefitting from a strong industrial base. Geilenkirchen is also home to a key NATO airbase, further contributing to the area's economic stability.
The acquisition is in line with Sirius' strategy of acquiring well-located assets with secure income streams and value-add potential, at attractive yields.
UK Disposal
As part of its ongoing UK portfolio optimisation strategy, Sirius has also exchanged contracts for the disposal of a small non-core asset in Huddersfield to a private individual for a total consideration of £1.55 million. The transaction was concluded at a 7% premium to the asset's most recent book value and reflects a disposal yield of 8.1%, assuming standard purchaser costs. Proceeds from the sale will be redeployed into opportunities within the Group's portfolio, in line with Sirius' capital allocation strategy.
Andrew Coombs, CEO, commented: "This acquisition provides us with a well-located asset at an attractive yield and further strengthens our footprint in the Euregio Maas-Rhine industrial region. With Geilenkirchen being home to a key NATO airbase, it is also in line with our ambition of ensuring that Sirius' portfolio is well placed to benefit from an increased focus on defence investment, particularly following the news earlier this week that Germany's defence spending is now heading towards a new target of 5% of GDP. Following on from the Reinsberg and Monchengladbach acquisitions announced earlier this year, this acquisition presented Sirius with another sale and leaseback opportunity in a strong location at an attractive yield. The purchase helps another business owner to extract value from its property assets while maintaining operations on site, while delivering strong income returns for the Company."
"Following last year's equity fundraise and bond issuances, as well as our recently announced new €150 million unsecured revolving credit facility, we have the flexibility and resources to continue to make accretive acquisitions in Germany and the UK at this opportune point in the market cycle."
ENDS
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0855
FTI Consulting (Financial PR)
Richard Sunderland / Giles Barrie / James McEwan / 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 2025, the Group's portfolio comprised 145 assets let to 10,477 tenants with a total book value of over €2.5 billion, generating a total annualised rent roll of €221.4 million. Sirius also holds a 35% stake in Titanium, its €350+ million German-focused joint venture with clients of AXA IM 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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