Sirius Real Estate has added a £101.1m (€117.2m) business park to its UK portfolio.
The operator of branded business and industrial parks in Germany and the UK, said it has acquired the Hartlebury Trading Estate in Worcestershire.
The deal lifts its UK business, BizSpace’s portfolio by 18% to 8.3m sqft and grows the gross asset value by approximately 20%.
Hartlebury Trading Estate is set on a 171-acre site comprising a freehold multi-let industrial park with approximately 1.5m sqft of predominantly warehouse accommodation, alongside 17 acres of industrial open storage plots.
Sirius said it has already identified a number of opportunities to increase income, in line with its value-add asset management strategy, including environmentally focused upgrades in the near term.
Andrew Coombs, CEO of Sirius Real Estate, said: “The acquisition of Hartlebury Trading Estate marks a significant and highly strategic milestone for our UK BizSpace platform. Adding over 1.5m sqft across 171 acres, this transaction materially scales our UK portfolio and positions us as a leading player in the Midlands region.
“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.”
According to Coombs, Sirius has secured just under €290m in new investments this year. These investments, made in income-generating business parks, have brought in a total of €20m in new net operating income for the group.
“We have now fully allocated the capital from our two equity raises in November 2023 and July 2024, as well as the corresponding leverage that was unlocked from the May 2024 bond tap and January 2025 bond issuance.
“Whilst we still have some balance sheet headroom remaining as a result of the valuation increase we achieved in the last financial year, we are pleased that our capital deployment has been successful and shareholders will see the effects of the growth and accretion it brings come through in our second half results and beyond,” Coombs added.
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