Sirius Real Estate is expanding its UK portfolio with the addition of a Southampton business park that offers further development potential.
Sirius, which owns and operates business and industrial parks in Germany and the UK, said it has agreed to acquire Chalcroft Business Park for £36.5m (€43.3m) and an adjacent 4.5-acre development plot with planning permission for £4m.
Chalcroft Business Park features 267,073sqft of warehousing space and 126,511sqft of outdoor industrial storage. The 56-acre site also includes a 1.2-acre solar farm with a 2013 government feed-in tariff that expires in 2038.
The land plot adjacent to the main estate that has also been acquired has outline planning permission for approximately 40,000sqft of commercial space, providing a further development opportunity in the future, Sirius said.
Andrew Coombs, CEO of Sirius Real Estate, said: “The acquisition of Chalcroft Business Park adds a strong, income-generating asset to our portfolio, with strong sustainability credentials and significant potential for further value creation.
“By leveraging the combined expertise of the Sirius and BizSpace platforms, we aim to enhance existing revenues while unlocking new income streams through hands-on asset management and development.”
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