REG - Sirius Real Estate - Sirius to acquire defence-anchored business park

Sirius Real EstateAnnouncement

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RNS Number : 6473Y  Sirius Real Estate Limited  30 March 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

 

30 March 2026

Sirius Real Estate Limited

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

Sirius to acquire defence-anchored business park in Kiel for €93.4 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 business park in
Kiel, Germany, for €93.4 million (including acquisition costs), adding
another defence anchored asset to its portfolio. The property is predominantly
let to Rheinmetall, Germany's largest defence company, together with a number
of other companies in the defence, infrastructure, testing and automation
sectors.

Located in Kiel, the capital of the state of Schleswig-Holstein in northern
Germany and one of the country's strategic defence hubs. The property sits on
a 226,600 sqm plot and offers a gross lettable area of 78,170 sqm. It
comprises production and warehouse, office and laboratory space.

The purchase terms reflect an EPRA Net Initial Yield of 8.2%, and the business
park, which is currently 98.5% occupied, generates €7.78 million of annual
rental income, with a weighted average lease expiry (WALE) of 4.0 years.

Rheinmetall undertakes research and development of electrical systems for land
vehicles at the site, an area of significant growth for the company, while the
second largest tenant on site produces rail locomotives for European use.

The acquisition also includes a 955 sqm development which is on site and due
to complete in 2027. At this time, an existing tenant, specialising in systems
automation and robotics integration, will take occupation of a new building
under a new 10-year lease, further enhancing the asset's rent roll.

Situated on Germany's Northern Coast leading directly into the Baltic Sea,
Kiel is a major maritime industrial defence and transport hub, with its port
and shipyard area and natural inlet making it a strategic logistics and
manufacturing base for the German Navy, as well as the commercial maritime
industry.

This acquisition further bolsters Sirius' portfolio of industrial estates let
to businesses in the defence-related sectors, with over €200 million
invested into this sub-sector in Germany and the U.K. over the past 12 months.
Recent acquisitions include a business park in Feldkirchen, Munich, which is
predominantly let to a company specialising in laser-defence technology,
alongside a business park in Bedford, U.K. which is used by an electric
components manufacturer to make component parts for ejector seats in modern
military jets.

The Group continues to progress further asset acquisitions in Germany and
looks forward to updating the market on another successful year of growth in
its year end trading update, scheduled for release on Monday, 13 April 2026.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "The
acquisition of this multi-let business park delivers immediate income and
offers further significant potential to improve rental tone, extend the WALE
and drive further revenue growth through on-site development. This site is
anchored by Rheinmetall, Germany's largest defence company and is
strategically located close to one of Germany's major naval bases in Kiel.
This acquisition also adds to our broader portfolio of defence-related
properties, further positioning the business to support the projected increase
in government investment into defence and the resulting growth in occupier
demand across the sector."

 

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 / Ellie Sweeney / 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

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