Sirius Real Estate has acquired a business park in Dresden, Germany for €23.4 million and a business park in Bedford in the UK for £16.13 million – both identified and purchased off market.

“These two latest acquisitions represent strong additions to our German and UK portfolios, being immediately cash generative whilst benefitting from clear value-add potential and secured at attractive entry yields,” says Sirius’ CEO, Andrew Coombs.

“The acquisition of Dresden business park strengthens our presence in a region enjoying substantial inward investment, particularly in the high-growth semiconductor sector. Bedford Heights also closely aligns with our strategic focus on the defence sector, with over one-third of the current tenant base operating in this space and further growth opportunities identified.”

The Dresden site is a 21 158m² light industrial park currently occupied by the vendor who has entered a one-year sale and leaseback and who is expected to vacate thereafter. Sirius plans to convert the site into a multi-let industrial park. The site generates a net operating income of €2.1 million and has been acquired at an EPRA net initial yield of 9.13% after acquisition costs. The site will be Sirius’ fourth asset in the Dresden area.

Bedford Heights is a ±22 000m² multi-let industrial park comprising warehouse, leisure, studio and office space with a three-acre car park. The transaction reflects an EPRA net initial yield of 9.52% after acquisition costs. The asset is 96% occupied, generating a net operating income of £1.54 million and a Weighted Average Unexpired Lease Term (WAULT) of 6.05 years to expiry.

Sirius has also completed the previously announced disposal of a small non-core asset in Huddersfield in the UK for a total consideration of £1.55 million, reflecting a 7% premium to the asset’s most recent book value. Proceeds from the sale will be redeployed into opportunities within the Group’s portfolio, in line with its capital allocation strategy.

So far in 2025, the Group has notarised to acquire or acquired approximately €165 million of assets across the UK and Germany including the recently completed acquisition of a property in Lübeck, along with earlier acquisitions in Munich, Reinsberg, Monchengladbach, Oldham and Chalcroft.

“Following last year’s successful equity raise and bond issuances, along with our recently secured €150 million unsecured revolving credit facility, we are strongly capitalised and well-positioned to continue executing accretive acquisitions across the UK and Germany, with these latest transactions a clear demonstration of our sourcing capabilities,” concludes Coombs.