Sirius Real Estate acquires light‑industrial business park in Fulda

Sirius Real Estate has completed the acquisition of a light‑industrial business park in Fulda, north‑east of Frankfurt, for total acquisition costs of €49.8 million. 

Fulda

The asset comprises 57,771 sqm of lettable space on a 112,867 sqm plot and is fully let, generating an annual rent roll of approximately €3.93 million.

The business park is production‑led, with a significant proportion of space used for manufacturing and warehousing. It is anchored by a leading European manufacturer of ballistic protection equipment, including bullet‑proof vests and protective systems for military, police and law‑enforcement customers. The tenant, based at the site since 2014, is benefiting from increased demand driven by structural growth in defence and security spending across Germany and Europe.

Sirius said the acquisition aligns with its strategy of investing in well‑located industrial and business park assets with strong occupier fundamentals, attractive day‑one income and exposure to government‑supported demand for mission‑critical defence and security‑related products.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: “Completing the acquisition of this high‑quality business park in Fulda further strengthens our German portfolio. Considering the income quality, the acquisition yield offers a very attractive risk/return relationship and supports the prospect of continued dividend progression. The tenant has shown a long‑term commitment to the site and has a clear runway of opportunity from increased government commitments to defence spending.”

He added: “This acquisition is fully aligned with our strategy of acquiring well‑located business and industrial parks at attractive yields, particularly where occupiers are supported by structural growth drivers and government‑backed demand, and integrating them into our operating platform to create long‑term value for shareholders.”