Sirius Real Estate, the leading owner and operator of branded business and industrial parks in Germany and the UK, has notarised the acquisition of a multi-tenanted business park in Mönchengladbach for €17.2 million (£14.7 million), representing an 8.21% Net Initial Yield (NIY).
Following the successful disposal of its BizSpace Tyseley business park at a 20% premium to book value, Sirius has also exchanged contracts for the sale of its BizSpace Cardiff site for €5.9 million (£5.1 million), a 10% premium to its book value. This marks the fourth UK disposal this financial year, with an average premium of 13.5% to book value.
The Mönchengladbach site is being acquired through a sale and partial leaseback agreement with the current owner, SMS Group, a globally recognised engineering and plant construction company occupying approximately 26% of the site. The new leases, secured for terms between 3 and 10 years, have a WALE of six years and contribute to the asset’s day-one rent roll of €2.43 million (£2.08 million).
Source: europe-re.com on the 27 March 2025
https://europe-re.com/sirius-real-estate-expands-with-17-2m-acquisition-in-germany-and-5-9m-disposal-in-the-uk/74085