Business
Acquisition in Geilenkirchen and Disposal of Asset
Acquisition in Geilenkirchen and Disposal of Asset.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n\nSIRIUS REAL ESTATE LIMITED\n(Incorporated in Guernsey)\nCompany Number: 46442\nJSE Share Code: SRE\nLSE (GBP) Share Code: SRE\nLEI: 213800NURUF5W8QSK566\nISIN Code: GG00B1W3VF54\n \n26 June 2025\nSirius Real Estate Limited\n(\"Sirius Real Estate\", \"Sirius\", the \"Company\" or the \"Group\")\n \nAcquisition in Geilenkirchen, Germany and Disposal of Non-Core UK Asset\nSirius 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.\nThe 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.\nThe 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.\nThe acquisition is in line with Sirius' strategy of acquiring well-located assets with secure income streams and value-add potential, at attractive yields.\nUK Disposal\nAs 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.\nAndrew 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-R...