SIRIUS REAL ESTATE LIMITED - Sirius Real Estate Acquires Neighbouring Business Park In Munich For 13.3 Million

Sirius Real Estate Acquires Neighbouring Business Park In Munich For €13.3 Million

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54

17 December 2024

                                       Sirius Real Estate Limited

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

         Sirius Real Estate acquires neighbouring business park in Munich for €13.3 million

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the U.K., has completed the acquisition of
a development site in Munich, immediately adjacent to the Company's Munich-Neuaubing business
park, for €13.3 million.

The site has been acquired at its land value and represents an important strategic acquisition that
allows the Company to secure the final corner of a well-located 130,000 sqm estate in the Bavarian
capital, presenting it with a number of value add and development options in the future.

Sirius has already been exploring potential alternative development opportunities at the Munich-
Neuaubing site, which lies in a largely residential area, and this acquisition will enhance the optionality
available.

The new asset being acquired comes with day one rent roll of approximately €740,000 per annum and
the Company envisions re-positioning the tenant base to maximise this income in the short term whilst
exploring development plans. The site benefits from a highly desirable micro location, 10 miles from
Munich city centre and 1 mile off the A99 motorway, providing excellent connectivity.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "This strategic acquisition
offers significant operational synergies as well as the potential to unlock meaningful value when
considered alongside our existing adjacent Munich-Neuaubing business park. With full ownership of
this 32 acre estate in a highly desirable location we have identified attractive longer term development
opportunities to significantly enhance returns. In the meantime, we intend to put the Sirius platform
to work immediately to maximise net operating income from the asset.

"We continue to make good progress on our acquisition pipeline through strategic acquisitions across
the UK and Germany."

                                                  ENDS

For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0855
FTI Consulting (Financial PR)
Richard Sunderland / Ellie Sweeney/ James McEwan
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com

NOTES TO EDITORS

About Sirius Real Estate
Sirius is a property company listed on the equity shares (commercial companies) category of the
London Stock Exchange and the premium segment of the main board of the JSE Limited. It is a leading
owner and operator of branded business and industrial parks providing conventional space and
flexible workspace in Germany and the U.K. As of 30 September 2024, the Group's owned portfolio
comprised 145 assets let to 10,025 tenants with a total book value of €2.4 billion, generating a total
annualised rent roll of €214 million. Sirius also holds a 35% stake in Titanium, its €350+ million
German-focused joint venture with clients of AXA IM Alts.

The Company's strategy centres on acquiring business parks at attractive yields and integrating them
into its network of sites - both under the Sirius and BizSpace names and alongside a range of branded
products. The business then seeks to reconfigure and upgrade existing and vacant space to appeal to
the local market via intensive asset management and investment and may then choose to refinance
or dispose of assets selectively once they meet maturity, to release capital for new investment. This
active approach allows the Company to generate attractive returns for shareholders through growing
rental income, improving cost recoveries and capital values, and enhancing returns through securing
efficient financing terms.

For more information, please visit: www.sirius-real-estate.com

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on X (Twitter) at @SiriusRE

JSE Sponsor
PSG Capital

Date: 17-12-2024 09:00:00
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