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Sirius Real Estate boosts annual rent roll 7.6%
StockMarketWire.com
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German business park investor Sirius Real Estate said its rent roll had risen 7.6% and that it had collected more than 98% of rent due for the year.
The company's annualised rent roll for the year through March had increased to €97.2 million, up from €90.3 million year-on-year.
Total occupancy had increased to 87.0%, up from 85.3%, with like-for-like occupancy increasing to 86.9%, up from 85.2%.
Sirius Real Estate said it would report a cash collection success rate of 98.2%.
A total of €143.8 million was invoiced relating to the 12-month period, with €141.1 million collected, resulting in €2.7 million of outstanding debt. It said the the majority of outstanding debt would be collected 'over time'.
'Over the past 12 months we have continued to grow Sirius, both from an operational perspective and through the acquisition of further assets where we see a clear opportunity to add value and increase income in the future,' chief executive Andrew Coombs said.
'The fact that we achieved our seventh year of like-for-like rent roll growth of above 5% alongside increases in many of our key performance indicators is all the more pleasing given the unprecedented headwinds created by the Covid-19 pandemic.'
'With the worst of the pandemic seemingly behind us and vaccinations being rolled out across the globe, we look forward with cautious optimism.'
Story provided by StockMarketWire.com
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