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Sirius Real Estate Ltd on Tuesday said it has completed the acquisition of two business parks and a development site with planning permission in Dresden, Germany and Southampton, England. The London and Johannesburg-listed property investor said it has bought a business park in Dresden for €23.4 million, Chalcroft Business Park in Southampton for £38.6 million and an adjoining 4.5 acre development site for £4.2 million. It said the Dresden acquisition was completed on an expedited basis after the vendor entered a one-year sale and leaseback agreement. The site, which is Sirius’s fourth in the Dresden area, generates a net operating income of €2.1 million and was acquired at an European Public Real Estate Association net initial yield of 9.1%. The Southampton acquisition was completed after the fulfilment of a condition related to higher on-site power capacity to support future expansion and development. Sirius said discussions are under way with a prospective tenant regarding the build-out of the adjacent development land. The business park generates a net operating income of £2.1 million and was acquired at an EPRA net initial yield of 5.5%. Sirius said it expects the Dresden site to benefit from inward investment momentum, after the area attracted a €10 billion semiconductor facility developed by Taiwan Semiconductor Manufacturing Co Ltd. ‘The completion of these two acquisitions immediately adds €4.5 million of annualised income to Sirius’s €2.7 billion portfolio in Germany and the UK. More importantly, they provide attractive opportunities to leverage our platform to grow revenues and unlock new income streams through active asset management, enhancing yields while capitalising on the assets’ strategic locations where we already have an established presence,’ said Chief Executive Officer Andrew Coombs. ‘Both acquisitions are fully aligned with our strategy of developing a diversified mix of flexible out-of-town business and industrial space tailored to local market demand, while supporting Sirius’ broader sustainability objectives.’ Shares in Sirius Real Estate were down 1.4% at 100.10 pence in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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