REAL ESTATE STOCKS
Sirius shines brightly with record-breaking income growth
The only Germany-focused property stock listed on the JSE delivers a 17% total return in the year to March
German business park owner Sirius Real Estate’s 2018 financial year has been its best since it listed in 2014, with record-breaking income growth and the acquisition of 13 new assets in Europe’s largest economy. Sirius, the only Germany-focused property stock listed on the JSE, delivered a 17% total return in the year to March, making it one of the best performing real estate stocks on the bourse. CEO Andrew Coombs said Sirius had managed to harness value from cost-effective flexible offices, which served small and medium enterprises and were located on main arterial nodes — areas just outside central business districts, but with easy access.
“A record 6.2% increase in like-for-like annualised rental growth, the highest performance in the group’s history, in a period when our key focus was on recycling and reinvesting, is an exceptional performance and reflects well on the strength of our in-house sales and marketing platform,” said Coombs. An analyst said Sirius’s ability to ...