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Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Sells its BizSpace Tyseley Business Park in Birmingham for £6.7 million, reflecting a 20% premium to its book value of £5.6 million in September 2024. Sirius had acquired the property in November 2021 for £5.1 million and increased the rent roll of the site by 30%, contributing to an increase in average rate per square foot to £9.69 from £7.39. However, ‘significant future capex investment was required in order to maintain the buildings, which the company felt could be better spent elsewhere in the portfolio’, Sirius explains. ‘This transaction demonstrates our platform’s ability to attract higher-paying quality occupiers and effectively execute strategically timed deals, enabling efficient capital recycling into our acquisition pipeline,’ says Chief Executive Officer Andrew Coombs. Current stock price in London: 83.05 pence, up 0.6% late Tuesday morning. 12-month change in London: down 8.5% Current stock price in Johannesburg: R 19.56, up 0.4% on Tuesday afternoon 12-month change in Johannesburg: down 10% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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