Sirius Real Estate Acquires Munich Business Park For 13.3 Mln Euros

(RTTNews) - Sirius Real Estate Ltd. (SRE.L), the real-estate company with operations in Germany, and the UK, Tuesday announced that it has completed the acquisition of a development site of Neuaubing business park in Munich for 13.3 million euros.

Sirius said the acquisition enables the company to secure the last corner of a well-positioned 130,000 sqm estate in Bavaria's capital.

The deal is expected to open up various opportunities for value enhancement and future development. The site is situated in a predominantly residential area and it is expected that the acquisition will further expand the range of possibilities available.

The newly acquired asset generates an initial annual rental income of approximately 0.74 million euros.

SRE.L is currently trading 0.70 or 0.87% less at GBp 79.70 on the London Stock Exchange.