Notice of Trading Update

RNS Number : 5385N

Sirius Real Estate Limited

30 September 2021

 

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

30 September 2021 

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius" or the "Company")

Notice of Trading Update

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany, announces that it will issue a trading update for the six months to 30 September 2021 on Wednesday, 6 October 2021.

A conference call for analysts and investors will be held at 08.30 BST / 09.30 SAST on the day of the trading update. If you wish to dial in, please contact FTI Consulting for details.

For further information:

Sirius Real Estate

Andrew Coombs, CEO / Alistair Marks, CFO

[phone] 

FTI Consulting  (Financial PR)

Richard Sunderland / Claire Turvey / James McEwan / Talia Jessener

[phone]

[e-mail] 

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 JSE Limited.  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.

Sirius also has a venture with clients represented by AXA Investment Managers - Real Assets. Titanium was formed through the acquisition by AXA Investment Managers - Real Assets, on behalf of its clients, from Sirius, of a 65% stake in five business parks across Germany. Sirius retained the remaining 35%. The venture seeks to grow primarily through the acquisition of larger stabilised business park assets and portfolios of assets with strong tenant profiles and occupancy. As well as its equity interest, Sirius acts as operator of the assets in the venture, on a fee basis. Sirius will continue to grow its wholly owned portfolio through acquisitions of more opportunistic assets, where it can capitalise on its asset management expertise to maximise utilisation of the space, grow occupancy and improve quality of the tenants. The strategies have been clearly defined so that the venture does not conflict with Sirius's existing business.

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

JSE Sponsor

PSG Capital

 

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