Sirius Real Estate Ltd.
SRE · Main Market · Real Estate · mcap £1,472m · 95.3p 2 open situations →
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Large acquisition / reverse takeover
German defence-related acquisitions
Kiel and Fulda done; pipeline remains strong
Led to Capital raise for acquisitions – Priced and allocated; admission pending, closed 17 Feb 2026
Two German defence-related deals went into exclusivity on 16 February 2026 after a £77m raise. Kiel (€93.4m) completed and Fulda (€49.8m, notarised 28 May) completed on 22 July 2026. The 5 October 2026 update says about €150m was deployed in the half at gross yields above 8%. The replacement assets are not mentioned.
- Defence assets
- Three assets, €155.8m, per 1 June results 22 Jul 2026 ↗
- Fulda
- Leading European ballistic protection manufacturer; €49.8m, completed 22 July 2026 5 Oct 2026 ↗
- Fulda price
- €49.8m total acquisition costs, completed 22 July 2026 22 Jul 2026 ↗
- Fulda yield
- 7.8% EPRA NIY; annual rent roll about €3.93m; fully let 22 Jul 2026 ↗
- Fulda tenant
- Anchored by a European ballistic protection manufacturer, on site since 2014; WALE 5.1 years 22 Jul 2026 ↗
- Capital deployed
- About €150m into acquisitions in the six months to 30 September 2026, at gross yields above 8% 5 Oct 2026 ↗
Next: Replacement assets (about €30m) still to be notarised and completed
- 5 Oct 2026 Kiel and Fulda done; pipeline remains strong
- 22 Jul 2026 Kiel and Fulda completed; replacements pending
- 1 Jun 2026 Kiel completed; defence acquisitions total €155.8m
- 13 Apr 2026 Kiel completed; second deal dropped; two replacements
Insider conviction
2 directors buying
£360k in 3 buys
- 28 Sep 2026 Andrew Coombs £90k
- 7 Sep 2026 Joanne Kenrick £30k
- 18 Aug 2026 Andrew Coombs £240k
Closed · 2
Company filings. Not investment advice.