Sirius Real Estate buys two English properties and sells two others

(Alliance News) - Sirius Real Estate Ltd said on Thursday it has completed two acquisitions in ...

Alliance News 20 June, 2024 | 7:50AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Sirius Real Estate Ltd said on Thursday it has completed two acquisitions in England and made two disposals, indicating it is hungry for more purchases.

Sirius is a London- and Johannesburg-listed investor in business and industrial parks in the UK and Germany.

It has bought two industrial assets in England for just over GBP31 million combined. One property is in Banbury, Oxfordshire and one in Wembley, northwest London

The Beaumont Industrial Estate in Banbury was bought for GBP25 million. The light industrial multi-let building in Wembley was bought for just under GBP6.3 million.

Both of the assets benefit from good transport networks and connectivity, Sirius said.

Sirius said it has identified a number of opportunities to drive value through the Banbury and Wembley properties by utilising its asset management platform to improve occupancy, income, and service charge recovery.

"These acquisitions present the company with a number of value-add opportunities to utilise the Sirius platform to grow income and value across two strategic locations in the UK, including one in which we already have an established presence," Chief Executive Officer Andrew Coombs said.

Coombs said Sirius continued to make good progress on its acquisition pipeline.

Sirius also Thursday said it has sold two assets located in Hartlepool and Letchworth, England, for a combined total of GBP1.9 million, which is a 2.7% premium to book value. The company called the two properties sub-scale.

Shares in Sirius were up 1.2% to 97.70 pence each in London on Thursday morning and were unchanged at ZAR22.50 in Johannesburg.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Sirius Real Estate Ltd 95.40 GBX -0.83 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures