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Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Completes disposal of two assets for a total of €12.2 million. The most recent disposal, which was completed on Saturday, was achieved at a 5.3% premium to book value of €8.3 million as at September 30, 2022 and comprises a mixed-use mature business park in Wuppertal, in North Rhine Westphalia, Germany. Sirius originally bought the property for €8.8 million in 2007. This disposal follows the €3.4 million sale at book value of a vacant office building in Ipswich, England, which completed in December.
‘The strategic disposal of these assets at or above book value during a challenging market underpins the strength of our portfolio,’ Sirius Chief Executive Andrew Coombs says. In the last 12 months, the company has sold six assets for €45.7 million. It invested the proceeds in three new sites in Germany for €44.6 million.
Stock price close in London: 75.75 pence
12-month change: down 40%
Stock price close in Johannesburg: R 16.64
12-month change: down 31%
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