Sirius Real Estate expands UK portfolio with €117m acquisition

Sirius Real Estate has expanded its UK portfolio by acquiring the Hartlebury Trading Estate in Worcestershire for £101.1 mln (€117 mln).

Hartlebury Trading Estate

This purchase, which follows recent acquisitions in Germany and the U.K., increases Sirius's U.K. footprint by 18%, boosts its gross asset value by 20%, and immediately enhances revenue by 10%.
The newly acquired estate is a large, 171-acre multi-let industrial park that includes 1.5 million square feet of warehouse space. The property is currently 84% occupied by over 100 tenants, generating £6.9 mln (€8.0 mln) in annual net operating income.
Sirius Real Estate is set to benefit from a 6.45% EPRA net initial yield, and the estate offers a WAULT of 4.1 years. Sirius plans to use its value-add strategy to improve the property and increase its income, including making environmentally focused upgrades and leasing the vacant space. The company also noted the potential for future development on the estate's two undeveloped plots.
This acquisition brings Sirius's total investment in business parks in 2025 to €289.9 mln, adding €20 mln in net operating income.
The estate, formerly an RAF maintenance base, boasts a strategic Midlands location near Birmingham, with excellent transportation links including proximity to the M5 motorway and a train station.
Andrew Coombs, CEO of Sirius Real Estate, commented: "The acquisition of Hartlebury Trading Estate marks a significant and highly strategic milestone for our U.K. BizSpace platform. The estate offers immediate, robust cash flow from a well-diversified and stable tenant base, while also presenting a number of opportunities to leverage the combined expertise of the Sirius and BizSpace platforms to enhance existing revenues and unlock new income streams through hands-on asset management, further enhancing the yield.”