India, Feb. 4 -- Sirius Real Estate Limited (SRE.L), an owner and operator of branded business and industrial parks in Germany and the U.K., on Tuesday said it has notarised the acquisition of a business park in Reinsberg in Saxony, Germany, for 20.4 million euros.
The purchase price represents a 6 percent EPRA NIY after purchase costs.
The Reinsberg acquisition is 75 percent occupied, the majority of which is under a 10-year full repairing and insuring lease to the vendor, generating a rental income of 1.5 million euros per annum.
The 25 percent vacancy is expected to provide the company with an opportunity to add value by utilizing its management platform to lease up the space, while having significant day one long term income.
The as...