Business
Correction - Trading Statement
Correction - Trading Statement.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n \nRNS Number : 1271U Sirius Real Estate Limited 05 April 2016 \n\nThe following amendment has been made to the Trading Statement announcement released 04 April 2016 at 0700 under RNS No 9845T\nThe incorrect date of \"31 March 2015\" in the second paragraph has now been corrected to \"31 March 2016\".\nAll other details remain unchanged.\nThe full amended text is shown below.\n \n \n04 April 2016\n \nSirius Real Estate Limited\n(\"Sirius\" or \"the Company\" or \"the Group\")\n \nTrading Statement and Directorate Change\n \nSirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, is pleased to announce the following trading statement for the twelve months to 31 March 2016.\n \nTrading Update\nThis has been another strong year for Sirius, which has seen annualised rental income exceed €60 million for the first time as at 31 March 2016. The Group is also in advanced stages of negotiating more favourable terms on its largest debt facility including securing further funding at a significantly lower interest rate. The Company expects the results for the 12 months to 31 March 2016 to be in line with market expectations and is well positioned to make a strong start to the new financial year. We anticipate good ongoing growth in rental income next year and beyond as we continue with our capital investment programme and with making selective acquisitions. \n \nThe main highlights of the period include:\n \n· In October 2015 the Company completed two acquisitions, a second multi-let business park located in Aachen and a site in CöllnParc, Cologne. This completed the acquisition portfolio, announced on 4 June 2015. These two sites together, added €2.0m to the rent roll and €1.9m to Net Operating Income (\"NOI\") on an annualised basis.\n· On 30 March 2016, Sirius completed a further acquisition of a business park in Mainz for €25.1m including acquisition costs which will add a further €2.2m to the rent roll and €2.0m to NOI. This acquisition was partly funded by a new €16.0m 5-year facility from Deutsche Genossenschafts-Hypothekenbank AG with a fixed interest rate of 1.58% for the full term.\n \n· The Company&n...