(Alliance News) - Sirius Real Estate Ltd said on Monday it had sealed four acquisitions in Germany and the UK, for a combined EUR100 million.
The London and Johannesburg-listed property investor also said it has completed the sale of a light industrial asset in Stoke-on-Trent, UK, for GBP3 million.
It said the previously announced acquisitions include Vantage Point Business Village in Gloucestershire, UK, acquired for EUR56.4 million; a business park in Koln, bought for EUR20.0 million; a multi-tenanted business park in Goppingen, purchased for EUR19.8 million; and an industrial park and adjacent land parcel in Klipphausen, near Dresden, which has been acquired for EUR13.8 million.
Sirius said these acquisitions were made using the proceeds of a EUR165 million capital raise in November.
"All four of these assets are situated in highly desirable micro-locations and benefit from good transport networks and connectivity," the company said. "They are also all located in close proximity to other Sirius or BizSpace sites".
Sirius Chief Executive Officer Andrew Coombs added: "These acquisitions present the company with a number of value-add opportunities to grow income and value across four strategic locations in Germany and the UK where we already have an established presence.
"Acquired at attractive yields, these assets align well with our strategy of curating a range of flexible out-of-town business and industrial products that we expect to appeal to the local market, with the Gloucestershire acquisition expected to be particularly transformational for our BizSpace platform."
By Artwell Dlamini, Alliance News reporter
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Sirius Real Estate (SRE)