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Investor Presentations

4 Mar 2014 07:00

RNS Number : 4144B
Sirius Real Estate Limited
04 March 2014
 



 

 

Sirius Real Estate Limited

("Sirius" or "the Company")

 

Investor Roadshow in South Africa

 

Sirius Real Estate the leading operator of branded business parks providing flexible workspace to the German SME market is holding a series of investor presentations in South Africa over the next three days.

The Company will be providing investors with an update on performance and future potential of the business following the successful equity raising in December 2013. Included in the presentation materials are the following key points:

· Overall the presentation materials detail the Company's plans to use increased cash reserves to take advantage of earning enhancing opportunities already identified within the core portfolio and to seek attractive new acquisition opportunities.

· As at 14 February 2014, annualised rental income was stable at €40.9 million, with occupancy also stable at 75% and the average rental rate per sqm across the portfolio was €4.47.

· A new c. €10 million capital expenditure programme has commenced aimed at unlocking c. 100,000 sqm of vacant space over the next three years with a target ROI of 40%. Work has already begun on 30% of the projects identified.

· Circa €14.2m of non-core property identified for disposal with progress as follows:

- €4.3m completed

- €5.9m notarised

- €4.0m instructed for sale

· An additional 106,459 sqm of non-income producing land has been identified as available to sell or develop (since October 2012 60,431 sqm of land has been sold for €8.4 million).

· The proceeds from these non-core property and non-income producing land disposals will be made available for acquisitions with the potential to generate geared double digit cash on cash yields based on being 50% geared.

· Cushman & Wakefield have been appointed as the new valuer, with first valuation to appear in 31 March 2014 accounts.

The presentation materials used at the investor presentations will be published today on the Sirius website: www.sirius-real-estate.com. The Company will not be disclosing any further new material financial information in the presentations.

 

Enquiries:

Sirius Real Estate

Andrew Coombs, CEO +49 (0)30 285010110

Alistair Marks, CFO

 

Peel Hunt

Capel Irwin +44 (0)20 7418 8900

Hugh Preston

 

Novella

Tim Robertson +44 (0)20 3151 7008

Ben Heath

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCJJMPTMBBMBBI
Date   Source Headline
3rd Jun 20262:00 pmRNSAnnual Report and Notice of Annual General Meeting
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28th May 20267:00 amRNSSirius notarises acquisition of business park
26th May 202611:00 amRNSChanges to the Board and to the Audit Committee
5th May 202611:00 amRNSHolding(s) in Company
13th Apr 20267:00 amRNSTrading Update
1st Apr 20267:00 amRNSDEALING IN SECURITIES
30th Mar 20262:00 pmRNSSirius to acquire defence-anchored business park
24th Mar 20269:00 amRNSHolding(s) in Company
18th Mar 20267:00 amRNSSirius secures €300M Revolving Credit Facility
27th Feb 20263:00 pmRNSTotal Voting Rights
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17th Feb 20263:00 pmRNSDirector/PDMR Shareholding
17th Feb 20267:00 amRNSResults of Capital Raise
16th Feb 20264:45 pmRNSRetail Offer by RetailBook
16th Feb 20264:40 pmRNSProposed capital raise of c. £75 million
11th Feb 20267:00 amRNSAppointment to the Sirius Real Estate Board
3rd Feb 20267:00 amRNSResults of Dividend Reinvestment Plan
23rd Jan 20263:00 pmRNSNotification of a transaction by a PCA with a PDMR
20th Jan 20263:00 pmRNSNotification of a transaction by a PDMR
13th Jan 20263:30 pmRNSHolding(s) in Company
13th Jan 20267:00 amRNSHolding(s) in Company
12th Jan 20267:00 amRNSHolding(s) in Company
9th Jan 20267:05 amRNSHolding(s) in Company
9th Jan 20267:00 amRNSHolding(s) in Company
22nd Dec 20257:05 amRNSNotification of a transaction by a PDMR
22nd Dec 20257:05 amRNSNotification of a transaction by a PDMR
16th Dec 20259:00 amRNSNotification of a transaction by a PDMR
27th Nov 20257:00 amRNSSirius to acquire business park in Hamburg
25th Nov 20257:05 amRNSDealing in Securities
25th Nov 20257:00 amRNSNotification of transactions by PDMRs
21st Nov 20257:00 amRNSSirius completes acquisition of business park
18th Nov 20257:02 amRNSCash dividend and Dividend Reinvestment Plan
18th Nov 20257:00 amRNSCash dividend and Dividend Reinvestment Plan
17th Nov 20252:00 pmRNSCash dividend and Dividend Reinvestment Plan
17th Nov 20257:00 amRNSInterim results for six months ended 30 Sept 2025
24th Oct 202510:00 amRNSHolding(s) in Company
21st Oct 20257:00 amRNSAnalyst and Investor Property Tour
20th Oct 20257:00 amRNSSirius to acquire business park for €43.7 million
15th Oct 20257:00 amRNSFITCH REAFFIRMS SIRIUS' BBB CREDIT RATING
6th Oct 20257:00 amRNSTrading Statement
25th Sep 202511:00 amRNSDirector/PDMR Shareholding
22nd Sep 202510:00 amRNSHolding(s) in Company
15th Sep 20257:00 amRNSSirius issues €105 million of notes in bond tap
2nd Sep 20257:00 amRNSSirius completes acquisitions in Germany and U.K.
12th Aug 20257:00 amRNSSirius grows U.K. portfolio with acquisition
7th Aug 20254:15 pmRNSResults of Dividend Reinvestment Plan
6th Aug 20257:00 amRNSSirius acquires two business parks
31st Jul 20257:00 amRNSHolding(s) in Company

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