SIRIUS REAL ESTATE LIMITED - Completion Of The Acquisition Of Dresden Business Park For 28.6 Million

Completion Of The Acquisition Of Dresden Business Park For €28.6 Million

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
Share Code: SRE
ISIN Code: ISIN GG00B1W3VF54

                                                                             27 September 2016

                                         Sirius Real Estate Limited

                                  ("Sirius Real Estate" or the "Company")

                Completion of the acquisition of Dresden Business Park for €28.6 million

Sirius Real Estate, the leading operator of branded business parks providing conventional space and
flexible workspace in Germany, is pleased to announce the completion of the acquisition of the Dresden
business park for €28.6 million (including acquisition costs).
The site has 53,200 sqm of gross lettable area of which 45.9% is offices and 39.3% is warehouses and the
rest is a structural vacancy with an opportunity for development into further office space. The occupancy
upon acquisition is 65.7% across a broad base of 60 tenants paying a total annual rental income of €2.78
million with a weighted average lease length remaining of 3.3 years. It is being acquired on an 8.3% EPRA
net initial yield.

The acquisition has been initially purchased with equity but will be financed with the new BerlinHyp facility
that is expected to be drawn down in October.

Andrew Coombs, Chief Executive Officer, said, “This is a good site with the right mix of existing income
combined with the potential for us to add our expertise in developing the vacant space to lift occupancy
and capital values significantly. We are also making good progress towards completing the acquisition of
the Wiesbaden business park currently under notarisation.”


Enquiries:

Sirius Real Estate                                               +49 (0)30 285010110

Andrew Coombs, CEO

Alistair Marks, CFO

Peel Hunt                                                        +44 (0)20 7418 8900

Capel Irwin
Edward Fox

Canaccord Genuity Limited                                        +44 (0)20 7523 8000

Bruce Garrow

Chris Connors

JSE Sponsor: PSG Capital                                         +27 (0)21 887 9602

David Tosi

Willie Honeyball

Novella                                                          +44 (0)20 3151 7008

Tim Robertson

Toby Andrews

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