Sirius Real Estate Limited Notice of Trading Update (3135I)
April 01 2020 - 2:00AM
UK Regulatory
TIDMSRE
RNS Number : 3135I
Sirius Real Estate Limited
01 April 2020
1 April 2020
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius" or the "Company")
Notice of Trading Update
Sirius Real Estate, the leading operator of branded business
parks providing conventional space and flexible workspace in
Germany, announces that, following its financial year end on 31
March 2020, it will issue a trading update on Tuesday, 14 April
2020.
A conference call for analysts will be held at 09.00 on the day
of the trading update. If you wish to dial in, please email:
jeremy.carey@tavistock.co.uk for details.
For further information:
Sirius Real Estate
Andrew Coombs, CEO/Alistair Marks, CFO
Tel: +49 (0)30 285010110
Tavistock (Financial PR)
Jeremy Carey/James Verstringhe
Tel: +44 (0)20 7920 3150
Email: siriusrealestate@tavistock.co.uk
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the main market and
premium segment of the London Stock Exchange and the main board of
the Johannesburg Stock Exchange. It is a leading operator of
branded business parks providing conventional space and flexible
workspace in Germany. The Company's core strategy is the
acquisition of business parks at attractive yields, the integration
of these business parks into its network of sites under the
Company's own name as well as offering a range of branded products
within those sites, and the reconfiguration and upgrade of existing
and vacant space to appeal to the local market, through intensive
asset management and investment. The Company's strategy aims to
deliver attractive returns for shareholders by increasing rental
income and improving cost recoveries and capital values, as well as
by enhancing those returns through financing its assets on
favourable terms. Once sites are mature and net income and values
have been optimised, the Company may take the opportunity to
refinance the sites to release capital for investment in new sites
or consider the disposal of sites in order to recycle equity into
assets which present greater opportunity for the asset management
skills of the Company's team.
In July 2019, the Company completed the formation of its
Titanium real estate investment joint venture with clients
represented by AXA Investment Managers - Real Assets. Titanium was
formed through the acquisition by AXA IM - Real Assets, on behalf
of its clients, from Sirius, of a 65% stake in five business parks
across Germany. Sirius will retain the remaining 35% and will act
as operator of the assets, on a fee basis. Subject to suitable
investment opportunities, AXA IM - Real Assets and Sirius may
consider opportunities to grow the JV's portfolio primarily through
the acquisition of larger stabilised business park assets and
portfolios of assets with strong tenant profiles and occupancy.
Sirius will continue to grow its wholly owned portfolio through
acquisitions of more opportunistic assets, where it can capitalise
on its asset management expertise to maximise utilisation of the
space, grow occupancy and improve quality of the tenants. The
strategies have been clearly defined so that the JV does not
conflict with Sirius's existing business.
For more information, please visit:
www.sirius-real-estate.com
Follow us on LinkedIn at
https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE
LEI: 213800NURUF5W8QSK566
JSE Sponsor
PSG Capital
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NORKKDBNOBKDKNN
(END) Dow Jones Newswires
April 01, 2020 03:00 ET (07:00 GMT)
Sirius Real Estate Ld (LSE:SRE)
Historical Stock Chart
From Apr 2024 to May 2024
Sirius Real Estate Ld (LSE:SRE)
Historical Stock Chart
From May 2023 to May 2024