Sirius completes acquisition of business park

LSE (GBP) Share Code: SRE

Sirius Real Estate Limited

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

Sirius completes acquisition of business park in Feldkirchen near Munich

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., has completed the acquisition of a business park in Feldkirchen, Munich, Germany, for €43.7 million (including acquisition costs). Sirius announced that it had notarised the transaction on 20 October 2025.

Feldkirchen business park currently generates €3.4 million of annualised rent roll per annum and is 94% occupied with a 7.8 year weighted average unexpired lease term. This includes several smaller tenants on shorter leases which offer potential for upside from their current rental levels. The purchase terms reflect an EPRA Net Initial Yield of 7.8%.

The asset is anchored by Excelitas, a leading designer and manufacturer of high-performance optical and photonic solutions for defence, aerospace, medical and industrial applications, which occupies 72% of the park on a lease with 10.2 years to expiry. Other tenants include OVOL Papier, a subsidiary of global paper conglomerate Japan Pulp & Paper Group, the IWV Institut für Wirtschaftsmathematik and a subsidiary of Bosch.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "The completion of this acquisition brings another €3.4 million of annualised rent roll to the Group, on top of the €20 million we have already added so far this year. It also gives us ownership of a high quality business park which we expect to be a direct beneficiary of the ramp up in defence spending in Germany. Our portfolio of €2.8 billion of industrial focused property is well positioned to provide attractive opportunities for future growth utilising our proprietary in-house asset management platform."

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