Sirius Real Estate, a JSE-listed, owner, and operator of conventional space and flexible workspace in Germany and the UK, has achieved an 8.1% increase in overall rent roll and 7.7% on a like-for-like basis, reflecting management’s ability to capture rental growth in the current inflationary environment.
In Germany, its rental rates grew largely in line with our rent roll, reflecting the stable occupancy rates in the country.
In Sirius’ recently acquired UK business, BizSpace Ltd, the group successfully firmed rental rates to position its assets for better returns in the long term.
As of March 31, 2022, and following the acquisition of BizSpace, a UK provider of regional flexible workspace, the group’s portfolio comprised 140 assets let to 9,452 tenants with a total book value of over €2bn, generating a total annualized rent roll of €167.1m.
Read the full article here: https://propertyflash.co.za/2023/04/18/sirius-real-estate-soars-again/