Business
UK Acquisitions Update
UK Acquisitions Update.
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 \n27 July 2023\nSirius Real Estate Limited\n(\"Sirius Real Estate\", \"Sirius\" or the \"Company\")\n \nUK ACQUISITIONS UPDATE\n \nSirius 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., is pleased to announce that BizSpace, its UK subsidiary, has exchanged contracts to acquire a portfolio of 2 mixed use industrial assets. The two assets are located in Liverpool and Barnsley with a combined area of 71,957 sq ft of predominantly workshop accommodation. The purchase price of £9.5m represents a net initial yield (\"NIY\") of 9.6% (total acquisition cost).\n \nThese acquisitions follow on from the previously announced Camberwell and Ipswich disposals, which were sold at a combined premium to book value.\n \nThe sale illustrates the Company's continued focus on recycling capital from mature highly valued assets into those with potential which would benefit from the Company's active asset management platform.\n\nCommenting on these transactions, Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: \"It is pleasing to see the execution of our asset recycling strategy, by being able to redeploy capital from assets that were sold at a premium to book value into immediately income enhancing acquisitions that can benefit substantially from future asset management initiatives.\"\n \n \nFor further information:\nSirius Real Estate\nAndrew Coombs, CEO / Alistair Marks, CIO and Interim CFO\n+49 (0) 30 285 010 110\n \nFTI Consulting (Financial PR)\nRichard Sunderland / James McEwan / Talia Shirion\n+44 (0) 20 3727 1000\[email protected] \n \nNOTES TO EDITORS\nAbout Sirius Real Estate\nSirius is a property company listed on the main and premium market of the London Stock Exchange and 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 UK. As of 31 March 2023, the Group's portfolio comprised 140 assets let to 9,201 tenants with a total ...