SIRIUS REAL ESTATE LIMITED - Sirius Real Estate Acquires A 9 Million U.K. Industrial Park And Strategic Land Parcel In Oberhausen, Germany

Sirius Real Estate Acquires A £9 Million U.K. Industrial Park And Strategic Land Parcel In Oberhausen, Germany

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

5 November 2024

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

       Sirius Real Estate acquires a £9 million U.K. industrial park and strategic land parcel in
                                        Oberhausen, Germany

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., has completed the acquisition of
a multi-let light industrial park in Carnforth, Lancashire, for £9.05 million, representing an 11.4% net
initial yield including acquisition costs. The park is just north of Lancaster and is 3 miles from the M6
motorway with excellent connections to Scotland and to the south.

The acquisition will add 172,152 sq ft of light industrial space to the Group's U.K. portfolio, and has
been made using proceeds of the recent capital raise in July.

This freehold asset is fully let to eight tenants on FRI (full repairing and insuring) leases. It produces a
net operating income of £1.1 million per annum at an average rate of £6.47 psf, with a WAULT of
5.6 years to expiry (2.9 years to break). The site comes with planning permission for approximately
35,000 sq ft of new industrial space.

In addition, Sirius has completed the €3 million acquisition of a circa nine acre (35,894 sqm) strategic
land parcel adjacent to its 77,600 sqm Oberhausen multi-use business park in the Ruhr area of
northwest Germany, providing the opportunity to expand the park through a potential development.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "We are continuing to
make good progress on our acquisition pipeline, following on from 12 months of active investments
in both Germany and the U.K. The Carnforth acquisition presents the Company with a number of
value-add opportunities to utilise the Sirius platform to grow the income and value of the asset. In
addition, both Carnforth and the land that we have acquired beside our Oberhausen site offer
interesting development potential to add further industrial space."


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 31 March 2024, the Group's portfolio comprised 142
assets let to 9,654 tenants with a total book value of over €2 billion, generating a total annualised rent
roll of €194.7 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: 05-11-2024 09:00:00
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