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Sirius Real Estate: Update
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== Sale of Bizspace Camberwell == On 16th May 2022, Sirius Real Estate announced the sale of a business park asset for Β£16 million, representing a 94% premium to the valuation that the asset was initially acquired by the company in November 2021 (i.e. in less than eight months). The proceeds will be used to invest in higher yielding UK opportunities. Key features of the asset include: * It's located in Camberwell, London. * It's multi-tenanted. * It comprises approx. 34,700 sq. ft. of industrial and office space, and is 91% occupied. * The sale price represents a net initial yield (NIY), which is the current annualised rent, net of costs, expressed as a percentage of capital value, after adding notional purchaser's costs, of around 2.0%.
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