Sirius Real Estate has sold the Bremen Hag business park for €3.8m. It’s the second asset the company has sold this year in Bremen, an area which is outside of Sirius’s key focus on Germany’s “big seven” cities. Andrew Coombs, Chief Executive Officer of Sirius Real Estate called the property its only remaining non-core site in our portfolio. “It has been a challenging site and it is therefore particularly pleasing to have notarized the sale in line with book value,” he said. “The impact on occupancy as a result of selling both Bremen sites due to their high vacancy is likely to be around 4%. This, together with the combined sales proceeds of €19.3 million now available for re-investment, means the two disposals will have a positive impact on the company.”
