Sirius Real Estate acquires Hamburg Business Park for €32m

Sirius Real Estate has finalised the acquisition of a multi-tenant business park in Hamburg, Germany, for €31.9 mln.

Logistics

The 29,448 m2 property, located in Hamburg-Rothenburgsort, a major industrial area, is well-connected to central Hamburg and other Sirius assets, offering operational benefits. 
The acquisition boasts an EPRA Net Initial Yield of 6.1% and currently generates €2.15 mln in annual rent, with an 89% occupancy rate. This presents opportunities for value creation through leasing vacant space, potential development, and increasing rents from shorter-lease tenants.
The recently renovated park is occupied by a diverse range of businesses, with the top two tenants accounting for over 20% of the rent roll and having a combined Weighted Average Lease Expiry (WALE) of 3.1 years. 
The site holds a prime location near the Hamburg port within the Rothenburgsort industrial area.
Andrew Coombs, CEO of Sirius Real Estate, commented: "Following our acquisition of a business park in nearby Lübeck earlier this year, the asset is another exciting addition to our portfolio in the Hamburg region and wider Northern German area. The transaction also builds on the momentum we have achieved this calendar year, having made over €340 mln of acquisitions in the U.K. and Germany. 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."
As of 30 September 2025, the Group's portfolio comprised 153 assets let to 10,958 tenants with a total book value of €2.8 bn. Sirius also holds a 35% stake in Titanium, its €350+ mln German-focused joint venture with clients of AXA IM Alts.