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Cape Town – JSE listed property company Sirius Real Estate [JSE:SRE] has acquired a business park for €9.2m (R136.17m).
According to a notice issued to shareholders on Thursday, the company which is also listed on the London Stock Exchange, acquired a business in the city Krefeld. Sirius specialises in business property especially for the small to medium enterprise market in Germany.
It is the third site that Sirius acquired in Krefeld. The business park has 10 398 square meters of “modern, quality” office and warehouse space, the notice read. It has an occupancy of 72% and an annualised rental income of €0.7m (R10.36m).
“Krefeld is one of the markets we know extremely well in Germany and we are confident of adding value to this, the latest of our Krefeld acquisitions,” said Andrew Coombs, Chief Executive Officer of Sirius Real Estate.
“The city is commercially vibrant with excellent links to Dusseldorf and across Germany. We already have 17 793 sqm of lettable workspace in Krefeld so we know the types of workspace that are in undersupply.
“We will use this local knowledge and the operational synergies available to us to add rental income, alongside investing in re-branding and transforming sub-optimal areas.”
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