Sirius says letting enquiries are picking up
The Germany-focused landlord says there is particularly high demand for storage space, which makes up over a third of its lettable space
Germany-focused business park owner Sirius Real Estate says it has seen a pick-up in letting enquiries, with demand for storage space seeing a notable rise.
Enquiry levels had picked 17.4% in the six months to end-September, the group said, with notable enquiries for storage from new commercial tenants and self-storage customers.
Storage makes up 36% of the lettable space of Sirius, which had a portfolio worth €1.18bn (R23bn) at the end of March.
Sirius said on Wednesday cash collection remained high, while conferencing revenue had increased more than 50% since this activity resumed in July.
“The encouraging cash collection performance to date is reflective of the company's ability to engage actively with and manage its tenants as well as the extent and efficiency with which the German government has acted to support businesses during the Covid-19 pandemic,” the group said.
“To deliver these strong preliminary first-half figures in the face of the pandemic that we continue to contend with, is a clear demonstration of the resilience of our business model and the tenacity of the Sirius team,” said CEO Andrew Coombs.
In morning trade on Wednesday, the share price of Sirius was down 0.3% to R16.76, having risen 4.75% so far in 2020.
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