SIRIUS REAL ESTATE LIMITED - Sirius Completes Disposal Of Bremen Hag Business Park And Notarisation Of Sale Of Bremen Dtlinger Strasse

Sirius Completes Disposal Of Bremen Hag Business Park And Notarisation Of Sale Of Bremen Dötlinger Strasse

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (EUR) Share Code: SRE
LSE (GBP) Share Code: ESRE
ISIN Code: ISIN GG00B1W3VF54


14 November 2018


                                      Sirius Real Estate Limited

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


    Sirius completes disposal of Bremen Hag Business Park and notarisation of sale of Bremen
                                        Dötlinger Strasse

Sirius Real Estate, the leading operator of branded business parks providing conventional space and
flexible workspace in Germany, has completed the sale of its Bremen Hag Business Park for €3.8
million and notarised the sale of its Bremen Dötlinger-Strasse Business Park for €6.3 million, both in
line with book value.

Bremen Hag was a very large site located next to the container port in Bremen Harbour which held
limited appeal among prospective tenants, and was loss-making with a net operating expense of
around €300,000 and occupancy of less than 19%. The sale will therefore also increase overall
occupancy of the current portfolio by more than 2.5%, removing 48,000 sqm of vacant space.

Bremen Dötlinger Strasse was notarised for sale on the 23 October 2018 and is expected to complete
in March 2019.

These disposals complete the sale of the remaining non-core assets in the portfolio. They take the
number of sales by the Company this year to five, the others being another non-core asset in Bremen,
a non-income producing piece of land and a vacant residential building, which together will generate
proceeds of €21.1 million (€27.4 million when Bremen Dötlinger completes in March 2019).

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: “When the Bremen Dötlinger
Strasse sale completes in March 2019, it will conclude the Company’s strategy to exit Bremen, allowing
us to focus our sights on Germany’s “big seven” cities. The proceeds of both these sales will also
provide additional capital to invest in the current portfolio and on new acquisitons.”

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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