Sirius Business Park, Kirchheim. Picture: SUPPLIED
Sirius Business Park, Kirchheim. Picture: SUPPLIED

Sirius Real Estate, which owns business parks in Germany, said on Wednesday that the effect of Covid-19 on cash flow is now “very limited”.

The group, which has about 5,000 tenants, said it collected 99.8% of what it normally collects in rent in June, with only a small number of tenants requesting rent deferrals.

“The consistency of cash collection is reflective of the company’s breadth of tenant base, ability of its staff to engage with and manage its tenants, and the decisive manner in which the company has been managing throughout the crisis, as well as the efficiency with which the German government has acted to support businesses,” the group said.

Sirius said that after adjustments to its marketing strategy,  inquiry levels for new lettings had returned to normal levels of more than 1,200 a month in April, May and June 2020.

“Whilst the last few months have been a hugely challenging time for people both personally and economically, we have weathered the first phase of this crisis with relative success,” said CEO Andrew Coombs.

gernetzkyk@businesslive.co.za