SIRIUS REAL ESTATE LIMITED - Sirius Announces 11,000 Sqm Of Lettings And Updates On Acquisition Pipeline

Sirius Announces 11,000 Sqm Of Lettings And Updates On Acquisition Pipeline

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

Share Code: SRE

ISIN Code: ISIN GG00B1W3VF54



13 September 2018



                                       Sirius Real Estate Limited

                          ("Sirius Real Estate", “Sirius” or the "Company")


            Sirius announces 11,000 sqm of lettings and updates on acquisition pipeline

Sirius Real Estate, the leading operator of branded business parks providing conventional space and
flexible workspace in Germany, announces the completion of three large new lettings, a significant
renewal and provides an update on the acquisition pipeline.

Lettings

A leading German sports car manufacturer based in Stuttgart, and new tenant for Sirius, has signed a
five-year lease for the entire 6,800 sqm office building at Sirius Business Park Stuttgart-Weilimdorf,
completing the asset management plan for the site. The building was acquired in 2015 on the
understanding that one of the tenants with three years remaining on its lease intended to vacate,
which created an opportunity to find a new occupier and maintain the building’s full occupancy at a
higher rent. While this new tenant increases Sirius’ exposure to the automotive sector, the portfolio’s
total direct exposure to the sector remains less than 5%.

A division of the Berlin government has signed a 10-year lease at Sirius Business Park Berlin Tempelhof
on 2,200 sqm of office space at a rent of €14.35 per sqm. This transaction highlights the quality of
Sirius’s refurbished office space in Tempelhof, as well as the strength of demand for offices in and
around the city of Berlin. It also completes the letting of the 7,600 sqm building, which Sirius acquired
in a derelict state and has subsequently transformed into high quality office space.

CARE Deutschland-Luxemburg, part of the leading global humanitarian charity, has taken a ten-year
lease on 1,950 sqm of offices at Sirius Business Park Bonn-Siemensstrasse.

The Company is at an advanced stage of negotiations with Daimler AG, the owner of Mercedes- Benz,
for a five-year extension to its lease on circa. 40,000 sqm of office, production and storage space at
Sirius Technologiepark Kirchheim. Daimler has been a tenant here for many years, but always on short
leases, so this new lease is a strong indication that our Kirchheim site will be strategically important
for their operations for many years to come.

Acquisition pipeline

Overall the Company remains well advanced in the deployment of the €100 million of acquisition
capability it communicated to shareholders in its year-end results. So far, it has committed €39.4
million into completing the acquisitions of business parks in Friedrichsdorf and Fellbach and has
notarised a business park in Mannheim, which is expected to complete in October. In addition, the
Company has entered into exclusivity to acquire another €59.7 million of assets.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: "These lettings demonstrate the
effectiveness of our asset management approach, which focuses on the mix of long-term stable
income alongside high-yielding flexible income. We have secured some very well covenanted blue-
chip and government tenants on long-term leases, which are expected to be earnings accretive for
those business parks.

“Given the quality of these lettings and the current level of activity in our pipeline, we are optimistic
about the potential to further enhance the value and income from our portfolio.”


For further information:

Sirius Real Estate

Andrew Coombs, CEO

Alistair Marks, CFO

+49 (0)30 285010110


Tavistock (financial PR)

Jeremy Carey

James Verstringhe

+44 (0)20 7920 3150

siriusrealestate@tavistock.co.uk

NOTES TO EDITORS

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

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on Twitter at @SiriusRE
LEI: 213800NURUF5W8QSK566

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