Sharenet Sites 
Sharenet Sites
Completed €15.1 Million Acquisition Of Schenefeld Business Park (Hamburg)
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
Share Code: SRE
ISIN Code: ISIN GG00B1W3VF54
5 March 2018
Sirius Real Estate Limited
("Sirius Real Estate" or the "Company")
Completed €15.1 million Acquisition
of Schenefeld Business Park (Hamburg)
Sirius Real Estate, the leading operator of branded business parks providing conventional space and
flexible workspace in Germany, is pleased to announce that on 1 March 2018 its acquisition of a
business park in Schenefeld, a town on the edge of Hamburg, was completed for €15.1 million
(including acquisition costs).
The Schenefeld business park has been acquired at an EPRA net initial yield of 7.8% and follows on
from the €8.4 million Hamburg-Hummelsbüttel acquisition completed in December 2017. Hamburg is
one of the key markets in Germany and the two sites combined provide a good platform for Sirius’s
first investment into the city. The business park offers c.42,000 sqm of multi-purpose office and
warehouse/logistics space. With an annualised rental income of €1.5 million and 71% occupancy, it
provides a good combination of both initial income and value-add opportunity.
As previously announced, the acquisition was notarised on 29 September 2017.
Andrew Coombs Chief Executive Officer of Sirius Real Estate, said:
“This acquisition together with Hamburg-Hummelsbüttel continues the successful recycling of capital
into key German commercial markets and our strategy to acquire assets with significant earnings
potential. The full reinvestment of the proceeds from the July equity raise and sales of mature and
non-core sites is expected to be completed very soon and we are delighted to be able to enter the
Hamburg market, the one prime German commercial centre in which the Company was previously
not represented. Hamburg is the second busiest port in Europe and is home to many of Germany’s
leading corporations.
As a business we have been targeting the Hamburg market for some time now and the two
acquisitions in quick succession create a number of operational synergies for us as well as significant
opportunity for income and valuation growth.”
For further information:
Sirius Real Estate +49 (0)30 285010110
Andrew Coombs, CEO
Alistair Marks, CFO
Novella +44 (0)20 3151 7008
Tim Robertson
Toby Andrews
About Sirius Real Estate
Sirius is a property company listed on the main market and premium segment of the London Stock
Exchange and the main board of the Johannesburg Stock Exchange. It is a leading operator of branded
business parks providing conventional space and flexible workspace in Germany. The Company's core
strategy is the acquisition of business parks at attractive yields, the integration of these business parks
into its network of sites under the Company's own name as well as offering a range of branded
products within those sites, and the reconfiguration and upgrade of existing and vacant space to
appeal to the local market, through intensive asset management and investment. The Company's
strategy aims to deliver attractive returns for shareholders by increasing rental income and improving
cost recoveries and capital values, as well as by enhancing those returns through financing its assets
on favourable terms. Once sites are mature and net income and values have been optimised, the
Company may take the opportunity to refinance the sites to release capital for investment in new sites
or consider the disposal of sites in order to recycle equity into assets which present greater
opportunity for the asset management skills of the Company's team.
For more information, please visit: www.sirius-real-estate.com
Images of the Sirius property portfolio are available from: https://www.flickr.com/photos/sirius_re/
Follow us on Twitter at @SiriusRE
LEI: 213800NURUF5W8QSK566
JSE Sponsor
PSG Capital
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