Sirius Real Estate has notarised the acquisition of a business park in Klipphausen, near Dresden, together with an adjacent land parcel for an acquisition price of €13.75 million.
The acquisition has been made using the proceeds of November 2023’s €165 million capital raise. It represents the third asset to be acquired by Sirius in Germany this calendar year, and the sixth asset to be acquired across both Germany and the U.K. in recent months.
The site has been acquired from a corporate owner-occupier who plans to vacate the building, which is expected to be six months after completion. Sirius’ plan is to convert the site, which currently comprises c. 17,700 square metres of modern primarily light industrial and production space, into a multi-tenanted business park. Sirius’ asset management platform has identified multiple parties interested in leasing space at the site, which in aggregate is already in excess of the site’s entire leasable area. The plan is also to expand the park through the development of the adjacent 10,000 square metres land parcel which forms part of the acquisition.
Source: europe-re.com on the 29th of February, 2024
https://europe-re.com/sirius-acquired-business-park-in-klipphausen-near-dresden-for-13-8m-de/72731