Sirius Real Estate has completed the acquisition of a business park in Schenefeld, a town on the edge of Hamburg. The purchase price was €15.1m. The Schenefeld business park was acquired at an EPRA net initial yield of 7.8 percent. The business park offers approximately 42,000 sqm of multi-purpose office along with warehouse space. The company completed the acquisition of Hamburg-Hummelsbüttel acquisition last December. “As a business we have been targeting the Hamburg market for some time now and the two acquisitions in quick succession create a number of operational synergies for us as well as significant opportunity for income and valuation growth,” said Andrew Coombs, CEO of Sirius Real Estate.
Illustartive Picture: Sirius Real Estate
