Business park sale part of real estate deal
ABUSINESS park has been acquired by property giant Sirius Real Estate as part of a EUR100M deal.
Vantage Point Business Village in Mitcheldean was bought up by the London-listed company for nearly £50m.
As part of the deal, Sirius also acquired a business park in Koln for £17.2m; a multi-tenanted business park in Goppingen for £17m; and an industrial park and adjacent land parcel in Klipphausen, near Dresden, for £11.8m.
Andrew Coombs, chief executive of Sirius Real Estate, said the Gloucestershire acquisition was expected to be “particularly transformational” for the company’s Bizspace platform. Sirius acquired Bizspace - a provider of industrial, workshop, studio and outof-town office units - in 2021.
The acquisitions will add more than 1.5 million sq ft of primarily industrial space to the group’s UK Bizspace portfolio and just under 72,000 sq m of predominantly industrial space to the group’s German portfolio.
“These acquisitions present the company with a number of value-add opportunities to grow income and value across four strategic locations in Germany and the UK where we already have an established presence,” said Mr Coombs. “We are continuing to make good progress on our acquisition pipeline, following six months of active
These acquisitions present the company with a number of value-add opportunities to grow income and value across four strategic locations in Germany and the UK where we already have an established presence Andrew Coombs
investments in both Germany and the UK, and are in advanced discussions on additional opportunities, leaving us well placed to support the continued long-term growth of the group.”
The acquisitions were funded using the proceeds of a £147m capital raise that took place in November. Separately, Sirius said it had also completed the disposal of a light industrial asset in Stoke-on-trent for £3m. The asset, which comprises more than 55,097 sq ft of industrial space, was sold at a 1% premium to the last reported book value and was deemed non-core to the business going forwards.