Sirius Real Estate Limited Capital Markets Day (1775Z)
16 May 2019 - 4:00PM
UK Regulatory
TIDMSRE
RNS Number : 1775Z
Sirius Real Estate Limited
16 May 2019
16 May 2019
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius" or the "Company")
Capital Markets Day
Sirius Real Estate, the leading operator of branded business
parks providing conventional space and flexible workspace in
Germany, will today be hosting a Capital Markets Day for investors
and analysts in London.
A copy of the presentation will be published on the Company's
website (https://www.sirius-real-estate.com/), today. No new
material information will be provided.
For further information:
Sirius Real Estate
Andrew Coombs, CEO/Alistair Marks, CFO
+49 (0)30 285010110
Tavistock (Financial PR)
Jeremy Carey/James Verstringhe
+44 (0)20 7920 3150
siriusrealestate@tavistock.co.uk
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the main market and
premium segment of the London Stock Exchange and the main board of
the Johannesburg Stock Exchange. It is a leading operator of
branded business parks providing conventional space and flexible
workspace in Germany. The Company's core strategy is the
acquisition of business parks at attractive yields, the integration
of these business parks into its network of sites under the
Company's own name as well as offering a range of branded products
within those sites, and the reconfiguration and upgrade of existing
and vacant space to appeal to the local market, through intensive
asset management and investment. The Company's strategy aims to
deliver attractive returns for shareholders by increasing rental
income and improving cost recoveries and capital values, as well as
by enhancing those returns through financing its assets on
favourable terms. Once sites are mature and net income and values
have been optimised, the Company may take the opportunity to
refinance the sites to release capital for investment in new sites
or consider the disposal of sites in order to recycle equity into
assets which present greater opportunity for the asset management
skills of the Company's team.
On 1 March 2019, Sirius announced that, in a transaction due to
complete in June 2019, it had formed a real estate investment joint
venture with clients represented by AXA Investment Managers - Real
Assets in which AXA acting on behalf of its clients, will own a 65%
interest and Sirius will own the balance of 35%. The JV is being
formed initially by AXA acquiring, on behalf of its clients, from
Sirius a 65% stake in five business parks, two located in Berlin
(Berlin Borsig and Berlin Tempelhof) and one in each of Mainz,
Nurnberg and Bayreuth. The business parks provide a combination of
office, warehouse, industrial and storage space. The implied
property value of EUR168 million equates to a gross yield for the
portfolio of 6.2% and reflects a 19% premium to the last reported
book value as at 30 September 2018 (EUR141.1 million). The
transaction is expected to generate total cash proceeds of more
than EUR70 million for Sirius after refinancing and related
costs.
For more information, please visit:
www.sirius-real-estate.com
Follow us on LinkedIn at
https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE
LEI: 213800NURUF5W8QSK566
JSE Sponsor: PSG Capital
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END
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