SIRIUS REAL ESTATE LIMITED - Notarisation For 3.8 Million Sale Of Bremen Hag Business Park

Notarisation For €3.8 Million Sale Of Bremen Hag Business Park

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

Share Code: SRE

ISIN Code: ISIN GG00B1W3VF54




                                                                                               6 June 2018

                                    Sirius Real Estate Limited

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

          Notarisation for €3.8 million Sale of Bremen Hag Business Park

Sirius Real Estate, the leading operator of branded business parks providing conventional space and
flexible workspace in Germany, is pleased to announce the notarisation of the sale of its Bremen Hag
business park for €3.8 million, in line with book value.

The notarisation of Bremen Hag is the second site the Company has sold this year in Bremen, an area
which is outside of Sirius’s key focus on Germany’s “big seven” cities. Bremen Hag is the Group’s last
remaining non-core site and is located next to a container port in Bremen Harbour, which has limited
its appeal amongst prospective tenants. The asset is unfinanced and is loss-making, with a net
operating expense of around €300k and occupancy of less than 19%. The sale is likely to complete by
October 2018.

The sale will have a positive impact by:

•   Generating €3.8 million of free cash to be reinvested into new assets with greater potential;
•   Increasing occupancy (as at 31 May 2018) by 2.61% due to the reduction of 47,252 sqm of vacant
    space on the site; and
•   Increasing Group profitability by the removal of a loss-making asset.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: “This is the only remaining non-
core site in our portfolio. It has been a challenging site and it is therefore particularly pleasing to have
notarised the sale in line with book value. The impact on occupancy as a result of selling both Bremen
sites due to their high vacancy is likely to be around 4%. This, together with the combined sales
proceeds of €19.3 million now available for re-investment, means the two disposals will have a
positive impact on the Company.”

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

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