COMMERCIAL PROPERTY
Sirius takes advantage of strong German economy
Sirius Real Estate, the only property company that invests in Germany only, is on track to be a €1bn fund by 2019, with new German companies taking up offices at its sites. Sirius, which invested in flexible offices for mostly small and medium enterprises and self-storage assets, was benefiting from a strong German economy and high demand for its products, said CEO Andrew Coombs on Wednesday. Its share price has risen about 26% in the year to date. It grew its dividend 32% in its 2016 March financial year. "We are meeting our targets for Sirius as we aim to be a €1bn real-estate company," said Coombs. "We achieved a total return of 15.3% for shareholders, in the financial year to March." Investors were attracted to the fact that Sirius’s management team had made and kept its promises since listing and that its business model was easy to understand, said Ron Klipin, a portfolio manager at Cratos Wealth. "Their business model is a sound concept, taking big-box smokestack-style warehou...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.