SIRIUS REAL ESTATE LIMITED - Sirius sells Tyseley business park for 6.7m at a 20% premium to book value

Sirius sells Tyseley business park for £6.7m at a 20% premium to book value

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54

11 March 2025

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

            Sirius sells Tyseley business park for £6.7m at a 20% premium to book value

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., announces that it has disposed
of its BizSpace Tyseley Business Park in Birmingham for £6.7m, reflecting a 20% premium to book value
(September 2024: £5.6m).

Sirius acquired the asset as part of the BizSpace acquisition in November 2021 for £5.1m and
successfully increased the rent roll of the site by 30%, through the capture of under-rent, which
contributed to a 31% increase in average rate per sq ft from £7.39 to £9.69.

The 134,000 sq ft business park comprises 125,000 sq ft of industrial space and 9,000 sq ft by way of
an office building. Significant future capex investment was required in order to maintain the buildings,
which the Company felt could be better spent elsewhere in the portfolio.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "The sale of this asset at
a substantial 20% premium to book value highlights our success in improving the rental tone since
Sirius acquired BizSpace in November 2021. This transaction demonstrates our platform's ability to
attract higher-paying quality occupiers and effectively execute strategically timed deals, enabling
efficient capital recycling into our acquisition pipeline."

                                                 ENDS

For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0855

FTI Consulting (Financial PR)
Richard Sunderland / Ellie Sweeney / James McEwan
+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 2024, the Group's owned portfolio
comprised 145 assets let to 10,025 tenants with a total book value of €2.4 billion, generating a total
annualised rent roll of €214 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

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on X (Twitter) at @SiriusRE

JSE Sponsor
PSG Capital

Date: 11-03-2025 09:00:00
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