Sirius Real Estate Sirius Real Estate, JSE and London-listed owner of industrial parks in Germany and the UK, has furthered its strategy with the announcement of an acquisition of a defence-supported business park in Fulda, Germany, for €49.8 million (R935 million). .
Sirius Real Estate, the London and JSE-listed owner of branded business and industrial parks, has acquired a business park in Fulda, Germany, for €49.8 million (R935m), as it expands further into properties with a defence-focused tenant base.
The company said Wednesday that the light industrial business park in Fulda, north-east of Frankfurt in the Hesse region, Germany, comprises 57,771 square metres of lettable space on a 112,867 square metre plot and is fully let, currently generating an annual rent roll of about €3.93m, with a 5,1-year weighted average lease expiry.
The purchase price reflects an EPRA (European Public Real Estate) net initial yield of 7.8%.
The asset is production-led, with a significant proportion of space used for manufacturing and warehousing and is anchored by a leading European manufacturer of ballistic protection equipment - such as bulletproof vests - and protective systems serving military, police, and law enforcement customers.
