GERMAN REAL ESTATE COMPANY
Sirius targets main board
Demand for office space in northwest Germany from telecom and financial services has grown, says CEO Andrew Coombs
Sirius Real Estate, the AltX-listed owner of German flexible office space and storage assets, expects to move to the JSE’s main board in late January or early February.. Sirius is the only pure German property player on the JSE, with assets in Berlin, Munich, Dresden, Wiesbaden and Mainz, among others. The company invests in flexible office assets usually tenanted by small and medium companies. It also operates a rapidly growing storage business. CEO Andrew Coombs said Sirius had seen large demand for office space in northwest Germany from telecom and financial services firms. Management intends to grow the €770.9m portfolio to about €1.2bn within the next two years. A move to the main board would expose the company to large institutional investors, Coombs said. Sirius increased its dividend per share 51% in the six months to September.
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