Sirius Real Estate, the owner and operator of branded business and industrial parks, has completed four previously announced acquisitions in Germany and the UK totalling over €100m.
The acquisitions have been made using the proceeds of November’s €165m capital raise, it said on Monday.
The acquisitions include Vantage Point Business Village in Gloucestershire, UK for £48.25m, a business park in Köln for €20m, a multi-tenanted business park in Göppingen for €19.8m and an industrial park and adjacent land parcel in Klipphausen, near Dresden for €13.75m.
In total, the acquisitions will add more 140,000m2 of primarily industrial space to the group’s BizSpace portfolio, and just under 72,000m2 of predominantly industrial space to its German portfolio.
“All four of these assets are situated in highly desirable micro-locations and benefit from good transport networks and connectivity,” Sirius said.
They are also all located in proximity to other Sirius or BizSpace sites, with the Köln business park to be the fourth asset owned and operated by the company in and around Köln, and the Göppingen site to be the tenth asset in the area surrounding Stuttgart. This has enabled the company to leverage a number of operational synergies with existing sites alongside its local market expertise.
Separately, Sirius announced it has completed the disposal of a light industrial asset in Stoke-on-Trent in the UK, for £3m, which was deemed noncore to the business.
“We are continuing to make good progress on our acquisition pipeline, following six months of active investments in both Germany and the UK, and are in advanced discussions on additional opportunities, leaving us well placed to support the continued long-term growth of the group,” said CEO Andrew Coombs.
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