REG - Sirius Real Estate - Sirius notarises acquisition of business park

Sirius Real EstateAnnouncement

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RNS Number : 9570F  Sirius Real Estate Limited  28 May 2026

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

 

28 May 2026

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius", the "Company" or the "Group")

Sirius notarises acquisition of defence supported business park in Fulda for
€49.8 million

Sirius 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., has notarised the acquisition of a light-industrial
business park in Fulda, north east of Frankfurt in the Hesse region, Germany,
for total acquisition costs of €49.8 million.

The site comprises 57,771 sqm of lettable space on a 112,867 sqm plot and is
fully let, currently generating annual rent roll of €3.93 million, with a
5.1 year weighted average lease expiry. The purchase reflects an EPRA Net
Initial Yield of 7.8%.

The asset is production-led, with a significant proportion of space utilised
for manufacturing and warehousing, and is anchored by a leading European
manufacturer of ballistic protection equipment for military and law
enforcement customers. The tenant currently represents 78% of the rent roll
and has agreed to take additional space as it becomes available, which is
expected to result in the site transitioning to an almost entirely
single-tenant asset over time, with annual rental income of approximately
€4.0 million.

The tenant has been based at the site since 2014 and is benefiting from
increasing demand driven by structural growth in defence and security spending
across Germany and Europe. The acquisition therefore aligns with Sirius'
strategy of targeting assets supported by long-term demand drivers, while
offering strong income visibility and further asset management potential.

Hesse has the highest GDP per capita of any state in Germany and is one of the
country's economic powerhouses. Fulda is in an excellent strategic location
for industrial occupiers and is approximately 100km from Frankfurt. With
direct access to Europe's longest motorway, the A7 Autobahn, as well as the
A66 corridor, the site also benefits from strong local connectivity with 11
bus lines and an integrated regional rail and bus interchange serving the
wider Hesse catchment.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "This
acquisition represents another attractive opportunity to deploy capital into a
high-yielding industrial asset with strong existing income and clear potential
for further growth. The property is anchored by a high-quality manufacturing
tenant operating in the defence sector, which aligns with our strategy of
increasing exposure to areas supported by long-term structural demand and
brings our portfolio of recently acquired defence assets to just over €200
million at a blended gross yield of circa 8.9%.

We have already identified opportunities to grow income through the expansion
of the anchor tenant, while benefiting from the strength of the existing rent
roll from day one. The acquisition is therefore highly complementary to our
platform and supports our continued focus on generating sustainable income
growth alongside selective asset management opportunities.

The Group will publish full year results on 1 June 2026 and management will
host an investor presentation on that day. Interested parties should contact
FTI Consulting at SiriusRealEstate@fticonsulting.com
(mailto:SiriusRealEstate@fticonsulting.com) to register for attendance.

ENDS

 

For further information:

Sirius Real Estate

Andrew Coombs, CEO / Chris Bowman, CFO

+44 (0) 20 3059 0855

 

FTI Consulting (Financial PR)

Richard Sunderland / Giles Barrie / Talia Shirion

+44 (0) 20 3727 1000

SiriusRealEstate@fticonsulting.com

 

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the equity shares (commercial
companies) category of the London Stock Exchange and the premium segment of
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 U.K. As of 30 September 2025, the
Group's portfolio comprised 153 assets let to 10,958 tenants with a total book
value of €2.8 billion, generating a total rent roll of €242.5 million.
Sirius also holds a 35% stake in Titanium, its €350+ million German-focused
joint venture with clients of AXA IM Alts.

The Company's strategy centres on acquiring business parks at attractive
yields and integrating them into its network of sites - both under the Sirius
and BizSpace names and alongside a range of branded products. The business
then seeks to reconfigure and upgrade existing and vacant space to appeal to
the local market via intensive asset management and investment and may then
choose to refinance or dispose of assets selectively once they meet maturity,
to release capital for new investment. This active approach allows the Company
to generate attractive returns for shareholders through growing rental income,
improving cost recoveries and capital values, and enhancing returns through
securing efficient financing terms.  For more information, please
visit: www.sirius-real-estate.com (http://www.sirius-real-estate.com/)

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/
(https://www.linkedin.com/company/siriusrealestate/)  or on X (Twitter) at
@SiriusRE

JSE Sponsor

PSG Capital

 

 

 

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