Sirius - acquisition of multi-tenant business park
Sirius Real Estate ("Sirius", "SRE") has notarised the acquisition of a multi-tenant business park in Hamburg-Rothenburgsort, Germany, for EUR31.9 million, including costs. The 29 448 sqm site, located in Hamburg’s largest industrial area, is 89% occupied and generates an annualised rent roll of EUR2.15 million, with a 6.1% EPRA Net Initial Yield. The property, recently renovated, offers potential for rental growth, leasing vacant space, and development opportunities, with a WALE of 3.1 years. This is Sirius’s fifth Hamburg asset, strengthening its portfolio in Northern Germany. The company continues to focus on attractive investments in Germany, supported by a strong pipeline of opportunities.
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