Sirius Real Estate acquires business parks in Germany and the UK

Sirius Real Estate has acquired a business park in Dresden, Germany, for €23.4 mln, and another in Bedford, UK, for £16.1 mln (€18.5 mln) as part of separate off-market transactions.

Sirius logistics

The Dresden property is a 21,158 m2 light industrial park currently occupied by the seller under a one-year sale and leaseback agreement. Sirius plans to transform the site into a multi-let industrial park after the leaseback period, capitalizing on the region's strong economic growth, particularly in the semiconductor sector. 
The site, acquired at an EPRA net initial yield of 9.13% after acquisition costs, generates a net operating income of €2.1 mln. This will be Sirius's fourth location in the Dresden area.
Bedford Heights, a 238,000 sq ft multi-let business park comprising warehouse, leisure, studio, and office space, with a three-acre car park, was acquired at an EPRA net initial yield of 9.52% after acquisition costs. This acquisition aligns with Sirius's strategy of targeting well-located, income-generating assets with value-add potential. The park is 96% occupied, generating a net operating income of £1.54 mln (€1.76 mln) with a weighted average unexpired lease term (WAULT) of 6.05 years. A significant 36% of the site is leased to tenants in the defence sector. 
The location, just one mile from Bedford town centre with excellent transport links, offers operational synergies with Sirius's existing sites in Sandy and Milton Keynes. The park also presents future development opportunities, particularly in multi-let industrial, given that 67% of the leases have events within the next two years. The site's largest tenant occupies 33% of the space with a WAULT exceeding 10 years.
Andrew Coombs, CEO of Sirius Real Estate, commented: "These two latest acquisitions represent strong additions to our German and UK portfolios, being immediately cash generative whilst benefitting from clear value-add potential, and secured at attractive entry yields. Following last year's successful equity raise and bond issuances, along with our recently secured €150 mln unsecured revolving credit facility, we are strongly capitalised and well-positioned to continue executing accretive acquisitions across the UK and Germany, with these latest transactions a clear demonstration of our sourcing capabilities."
Sirius Real Estate has also finalized the sale of a non-core asset in Huddersfield, UK, to a private individual for £1.55 mln (€1.77 mln), a 7% premium over its book value. The proceeds will be reinvested into other opportunities within Sirius's portfolio, aligning with the company's capital allocation strategy.
In 2025 alone, Sirius has committed to approximately €165 mln in acquisitions of income-producing assets across the UK and Germany. This includes the recent completion of a property acquisition in Lübeck, along with previously announced acquisitions in Munich, Reinsberg, Monchengladbach, Oldham, and Chalcroft.