ANALYSIS: Sirius Real Estate
Sirius is the only JSE-listed property fund that invests purely in Europe’s largest economy, Germany
Sirius Real Estate has built itself into an attractive investment for South Africans. It is the only purely German property play on the JSE. It invests in flexible office assets that tend to be tenanted by small and medium companies. It also has a storage business that is growing quickly. In early 2010, former British marine Andrew Coombs and Australian-born Alistair Marks took charge of an ailing London AIM-listed company. Sirius was in trouble, with its share price having crashed 70% from its 2007 listing price. But the two men have turned it around and it is now one of the most exciting property stocks on the JSE. The company had been held back by bureaucracy in 2010 and had many vacant, poorly performing assets, explains Coombs. He had been working at Regus, an office space provider. He was sent to Sirius as a management consultant when it was struggling, and was soon after appointed CEO. Coombs’s business partner, Alistair Marks, had already moved to Sirius. They have since led...
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