LONDON (ShareCast) - (Sharecast News) - Business parks investor Sirius Real Estate said on Thursday that it has acquired a multi-tenant business park in Hamburg for €31.9m.
Located in northern Germany's largest continuous industrial area, Sirius said the site has a gross lettable area of 29,448 square metres and was "well connected" to central Hamburg, which is an 11 minute drive away.

Sirius stated the purchase terms reflected an EPRA net initial yield of 6.1% and currently generates €2.15m of annualised rent roll per annum. It also noted the park was 89% occupied, providing it with "a number of value creation opportunities" through leasing of vacant space and future development.

The FTSE 250-listed firm also noted that the site was occupied by several smaller tenants whose shorter leases offer "potential for upside" from their current rental levels.

Sirius added that the asset, which was recently "substantially renovated", was occupied by "a number of leading businesses" across a "wide variety of sectors", with the two main tenants contributing over 20% of the rent roll and benefiting from a combined weighted average lease expiry of 3.1 years.

Chief executive Andrew Coombs said: "The acquisition of our fifth Hamburg business park will generate day one income and offers further significant potential to improve rental tone, grow occupancy and grow revenue through onsite development.

"The transaction also builds on the momentum we have achieved this calendar year, having made over €340m of acquisitions in the UK and Germany. Due to its strong economy and supportive macro tailwinds, and having made a number of significant acquisitions in the UK in the last couple of years, our main focus going into 2026 will be on seeking attractive investments in Germany, where we have a strong pipeline of opportunities that we are currently exploring."





Reporting by Iain Gilbert at Sharecast.com

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